Tax on a $20,000 RRSP Withdrawal (2026)

Withdraw $20,000 from your RRSP in 2026 and CRA withholds $6,000 immediately (30%) — or $5,800 (29%) if you're in Quebec. Your final tax bill depends on your marginal rate (other income + province).

Withheld at source (outside Quebec)

$6,000

30% of $20,000 — you receive $14,000 cash

Withheld at source (Quebec)

$5,800

29% combined fed + QC — you receive $14,200 cash

CRA Withholding Tiers (why 30%?)

Withdrawal amount	Outside Quebec	Quebec (fed + prov)
Up to $5,000	10%	19% (5% + 14%)
$5,001 – $15,000	20%	24% (10% + 14%)
Over $15,000	30%	29% (15% + 14%)

Source: CRA S3-F10-C3 and Regulation 103. Withholding is a prepayment — your final tax is your marginal rate, reconciled on your T1.

Per-Province Final Tax (if RRSP is your only income for 2026)

Pure withdrawal scenario — e.g. retiree with no employment or CPP/OAS yet. Assumes 2026 basic personal amount (BPA) shelters the first ~$16,452 federally.

Province	Withheld	Actual tax	Effective rate	Refund / (Owing)	Net in hand
Ontario	$6,000	$605	3.0%	$5,395.17	$19,395
British Columbia	$6,000	$497	2.5%	$5,503.28	$19,503
Alberta	$6,000	$497	2.5%	$5,503.28	$19,503
Quebec	$5,800	$561	2.8%	$5,238.52	$19,439
Manitoba	$6,000	$952	4.8%	$5,047.52	$19,048
Saskatchewan	$6,000	$497	2.5%	$5,503.28	$19,503
Nova Scotia	$6,000	$1,156	5.8%	$4,844.10	$18,844
New Brunswick	$6,000	$1,092	5.5%	$4,907.70	$18,908
Newfoundland and Labrador	$6,000	$1,098	5.5%	$4,902.46	$18,902
Prince Edward Island	$6,000	$972	4.9%	$5,028.28	$19,028
Northwest Territories	$6,000	$603	3.0%	$5,396.96	$19,397
Yukon	$6,000	$724	3.6%	$5,276.21	$19,276
Nunavut	$6,000	$510	2.6%	$5,489.64	$19,490

Full $20,000 breakdown at every income level, with the cash you need to withdraw and ways to lower the tax: Ontario · British Columbia · Alberta · Manitoba · Quebec

With Other Income (Ontario 2026)

What a $20,000 withdrawal actually costs when stacked on top of your existing income. Effective rate rises as your marginal rate climbs.

Other income: $0

$605

3.0% effective

Withheld $6,000 → refund $5,395

Other income: $30,000

$4,110

20.5% effective

Withheld $6,000 → refund $1,890

Other income: $60,000

$6,080

30.4% effective

Withheld $6,000 → owe $80

Other income: $100,000

$7,082

35.4% effective

Withheld $6,000 → owe $1,082

Run the numbers with your exact province, other income, and year: Open RRSP Withdrawal Tax Calculator →

Tax on Other RRSP Withdrawal Amounts

$300 $1,000 $2,000 $3,000 $4,500 $5,000 $8,000 $10,000 $15,000 $25,000 $30,000 $35,000 $40,000 $50,000 $60,000 $70,000 $75,000 $100,000 $150,000 $200,000 $300,000

Related Calculators

RRSP Withdrawal Tax Calculator

Any amount, any province, any other-income level

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RRIF Minimum Withdrawal

Post-71 mandatory drawdown schedule

RRSP Contribution Limit 2027

$35,390 cap, 18% rule, and both RRSP deadlines

Tax-Advantaged Savings Guide

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Frequently asked questions

How much tax do you pay on a $20,000 RRSP withdrawal?

CRA withholds 30% at source outside Quebec (29% in Quebec) — that's $6,000 on $20,000. At filing you settle up at your marginal rate. With no other income in Ontario 2026, actual tax is $605 (3.0% effective) and you get a refund of $5,395.

How much is withheld on a $20,000 RRSP withdrawal?

CRA withholding tax on $20,000: $6,000 (30%) in every province except Quebec, and $5,800 (29%) combined federal + provincial in Quebec. Withholding tiers are 10%/20%/30% on ≤$5k / $5,001–$15k / $15k+, doubled to 19%/24%/29% in Quebec.

Is a $20,000 RRSP withdrawal taxable income?

Yes. The full $20,000 is added to your taxable income for the year and taxed at your combined federal + provincial marginal rate. The 30% withholding is a deposit against that tax, not the final tax owed — if your marginal rate is higher you'll owe more; if lower you'll get a refund.

Does it matter how I split a $20,000 withdrawal?

Yes — withholding tiers apply per withdrawal, so splitting $20,000 into several ≤$5,000 withdrawals drops the immediate withholding to 10% each (19% in Quebec). CRA is wise to this: they may apply a higher rate if withdrawals are clearly coordinated to reduce withholding. Final tax at filing is identical regardless of splits — only your cash flow before filing changes.