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 | $57,800 | 29.0% | $2,199.90 | $142,200 |
| British Columbia | $60,000 | $59,541 | 30.0% | $459.02 | $140,459 |
| Alberta | $60,000 | $58,030 | 29.0% | $1,969.76 | $141,970 |
| Quebec | $58,000 | $71,791 | 36.0% | ($13,791.24) | $128,209 |
| Manitoba | $60,000 | $67,541 | 34.0% | ($7,541.31) | $132,459 |
| Saskatchewan | $60,000 | $62,665 | 31.0% | ($2,665.31) | $137,335 |
| Nova Scotia | $60,000 | $71,680 | 36.0% | ($11,679.79) | $128,320 |
| New Brunswick | $60,000 | $66,442 | 33.0% | ($6,441.86) | $133,558 |
| Newfoundland and Labrador | $60,000 | $67,695 | 34.0% | ($7,695.21) | $132,305 |
| Prince Edward Island | $60,000 | $70,127 | 35.0% | ($10,126.61) | $129,873 |
| Northwest Territories | $60,000 | $58,603 | 29.0% | $1,397.44 | $141,397 |
| Yukon | $60,000 | $57,366 | 29.0% | $2,633.69 | $142,634 |
| Nunavut | $60,000 | $53,784 | 27.0% | $6,216.35 | $146,216 |
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
$57,800
29.0% effective
Withheld $60,000 → refund $2,200
Other income: $30,000
$67,492
34.0% effective
Withheld $60,000 → owe $7,492
Other income: $60,000
$74,140
37.0% effective
Withheld $60,000 → owe $14,140
Other income: $100,000
$80,744
40.0% effective
Withheld $60,000 → owe $20,744
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 $57,800 (29.0% 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.