Quote:
Originally Posted by speede5
I think you're thinking of the witholding tax on an rrsp withdrawl. Unregistered investments don't get taxed when you withdraw you have to claim them as capital gains, of which 50% gets added to you net income.
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Good call, yes.
If you withdraw funds from your RSP, they are subject to withholding tax. If you withdraw at least $20k, they withhold 30% of it.
(withholding tax isn't a tax rate, you still file at the end of the year, and the amount that you withdrew from your RSP is treated as income, to be taxed at your marginal rate. Then, the amount withheld is a tax credit against that tax owing)