What are the withholding taxes for an RSP withdrawal?
Withdrawals from your RSP are treated as taxable income for that year and are subject to a withholding tax, which range as follows:
Withdrawal amounts | Outside Quebec | Quebec |
---|---|---|
$0 - $5,000 | 10% | 19% |
$5,001 - $15,000 | 20% | 24% |
$15,001 + | 30% | 29% |
RSP withdrawal withholding tax for Non-Residents is 25%