Tax on a $200,000 RRSP Withdrawal (2026)
Withdraw $200,000 from your RRSP in 2026 and CRA withholds $60,000 immediately (30%) — or $58,000 (29%) if you're in Quebec. Your final tax bill depends on your marginal rate (other income + province).
Withheld at source (outside Quebec)
$60,000
30% of $200,000 — you receive $140,000 cash
Withheld at source (Quebec)
$58,000
29% combined fed + QC — you receive $142,000 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 ~$16,129 federally.
| Province | Withheld | Actual tax | Effective rate | Refund / (Owing) | Net in hand |
|---|---|---|---|---|---|
| Ontario | $60,000 | $64,722 | 32.0% | ($4,721.98) | $135,278 |
| British Columbia | $60,000 | $59,596 | 30.0% | $404.28 | $140,404 |
| Alberta | $60,000 | $58,085 | 29.0% | $1,915.02 | $141,915 |
| Quebec | $58,000 | $71,837 | 36.0% | ($13,836.95) | $128,163 |
| Manitoba | $60,000 | $67,596 | 34.0% | ($7,596.05) | $132,404 |
| Saskatchewan | $60,000 | $62,720 | 31.0% | ($2,720.05) | $137,280 |
| Nova Scotia | $60,000 | $71,735 | 36.0% | ($11,734.53) | $128,265 |
| New Brunswick | $60,000 | $66,497 | 33.0% | ($6,496.60) | $133,503 |
| Newfoundland and Labrador | $60,000 | $67,584 | 34.0% | ($7,584.13) | $132,416 |
| Prince Edward Island | $60,000 | $70,181 | 35.0% | ($10,181.35) | $129,819 |
| Northwest Territories | $60,000 | $58,657 | 29.0% | $1,342.70 | $141,343 |
| Yukon | $60,000 | $57,421 | 29.0% | $2,578.95 | $142,579 |
| Nunavut | $60,000 | $53,838 | 27.0% | $6,161.61 | $146,162 |
With Other Income (Ontario 2026)
What a $200,000 withdrawal actually costs when stacked on top of your existing income. Effective rate rises as your marginal rate climbs.
Other income: $0
$64,722
32.0% effective
Withheld $60,000 → owe $4,722
Other income: $30,000
$76,452
38.0% effective
Withheld $60,000 → owe $16,452
Other income: $60,000
$85,094
43.0% effective
Withheld $60,000 → owe $25,094
Other income: $100,000
$94,402
47.0% effective
Withheld $60,000 → owe $34,402
Run the numbers with your exact province, other income, and year: Open RRSP Withdrawal Tax Calculator →
Tax on Other RRSP Withdrawal Amounts
RRSP Withdrawal Tax by Province
Related Calculators
Frequently asked questions
How much tax do you pay on a $200,000 RRSP withdrawal?
CRA withholds $60,000 at source outside Quebec (30%), or $58,000 (29%) in Quebec. At filing you settle up at your marginal rate. With no other income in Ontario 2026, actual tax is $64,722 (32.0% effective).
How much is withheld on a $200,000 RRSP withdrawal?
CRA withholds $60,000 (30%) outside Quebec or $58,000 (29%) combined federal + provincial in Quebec. Tiers: 10%/20%/30% on ≤$5k / $5,001–$15k / $15k+ (doubled to 19%/24%/29% in Quebec).
Is a $200,000 RRSP withdrawal taxable income?
Yes — fully added to your taxable income for the year and taxed at your combined federal + provincial marginal rate. The 30% withholding is a deposit, not the final bill.
Does splitting a $200,000 withdrawal reduce tax?
Splitting $200,000 into several ≤$5,000 withdrawals drops each withholding to 10% (19% in Quebec) — but final tax at filing is identical regardless of splits. Only your cash flow before filing changes. Note: CRA can apply higher withholding if withdrawals are clearly coordinated to game the tiers.