Tax on a $50,000 RRSP Withdrawal (2026)
Withdraw $50,000 from your RRSP in 2026 and CRA withholds $15,000 immediately (30%) — or $14,500 (29%) if you're in Quebec. Your final tax bill depends on your marginal rate (other income + province).
Withheld at source (outside Quebec)
$15,000
30% of $50,000 — you receive $35,000 cash
Withheld at source (Quebec)
$14,500
29% combined fed + QC — you receive $35,500 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 | $15,000 | $6,566 | 13.0% | $8,434.22 | $43,434 |
| British Columbia | $15,000 | $6,757 | 14.0% | $8,243.38 | $43,243 |
| Alberta | $15,000 | $6,875 | 14.0% | $8,124.80 | $43,125 |
| Quebec | $14,500 | $8,268 | 17.0% | $6,231.52 | $41,732 |
| Manitoba | $15,000 | $8,451 | 17.0% | $6,549.02 | $41,549 |
| Saskatchewan | $15,000 | $7,807 | 16.0% | $7,193.28 | $42,193 |
| Nova Scotia | $15,000 | $9,214 | 18.0% | $5,786.39 | $40,786 |
| New Brunswick | $15,000 | $8,112 | 16.0% | $6,887.70 | $41,888 |
| Newfoundland and Labrador | $15,000 | $8,382 | 17.0% | $6,617.96 | $41,618 |
| Prince Edward Island | $15,000 | $8,660 | 17.0% | $6,340.22 | $41,340 |
| Northwest Territories | $15,000 | $6,573 | 13.0% | $8,426.96 | $43,427 |
| Yukon | $15,000 | $6,844 | 14.0% | $8,156.21 | $43,156 |
| Nunavut | $15,000 | $5,910 | 12.0% | $9,089.64 | $44,090 |
With Other Income (Ontario 2026)
What a $50,000 withdrawal actually costs when stacked on top of your existing income. Effective rate rises as your marginal rate climbs.
Other income: $0
$6,566
13.0% effective
Withheld $15,000 → refund $8,434
Other income: $30,000
$11,991
24.0% effective
Withheld $15,000 → refund $3,009
Other income: $60,000
$14,870
30.0% effective
Withheld $15,000 → refund $130
Other income: $100,000
$17,486
35.0% effective
Withheld $15,000 → owe $2,486
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 $50,000 RRSP withdrawal?
CRA withholds $15,000 at source outside Quebec (30%), or $14,500 (29%) in Quebec. At filing you settle up at your marginal rate. With no other income in Ontario 2026, actual tax is $6,566 (13.0% effective).
How much is withheld on a $50,000 RRSP withdrawal?
CRA withholds $15,000 (30%) outside Quebec or $14,500 (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 $50,000 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 $50,000 withdrawal reduce tax?
Splitting $50,000 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.