RRSP Withholding Taxes Calculator

This RRSP Withholding Taxes calculator estimates how much tax will be withheld from your RRSP withdrawal, depending on several factors. Withholding tax varies depending on the amount withdrawn and your province of residence.


It’s important to know what taxes may be owed after reporting the withdrawal as income.

Financial institutions are required to withhold taxes on all cash withdrawals from an RRSP. The RRSP Withholding Taxes calculator estimates the amount based on where you live, your taxable income, and the amount withdrawn.

For residents of Canada, the rates are:

• 10% (5% in Quebec) on amounts up to $5,000
• 20% (10% in Quebec) on amounts over $5,000 up to including $15,000
• 30% (15% in Quebec) on amounts over $15,000

Discover related calculators including:

RRSP Withholding Taxes Calculator

Companion Infographic

This Registered Plan Limits infographic in FreshPlan outlines the 2022 contribution limits for Money Purchase Plans (MPP), Defined Benefit Plan (DBP), Registered Retirement Savings Plans (RRSP), Tax Free Savings Accounts (TFSA), Deferred Profit Sharing Plans (DPSP) and Maximum Pensionable Earnings. 


These consumer-facing financial calculators can be embedded in your web site quickly and easily.

Calculators are easy-to-use and fully responsive on any device – phone, tablet, laptop or desktop.

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Calculators can be fully branded according to your branding style guide. You’ll be up and running with a quick turnaround.

The calculator can be viewed for free up to five (5) times.

To use the full-featured versions of these calculators in FreshPlan, please contact us.

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