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RRIF Minimum Withdrawal Table

How RRIF payments are taxed

1 Withdrawals from a RIFF are considered taxable income in the year withdrawn



2 Taxation rates vary by province



3 Withholding tax is applied, by federal law, to any withdrawals from a registered plan



4 The amount withheld depends on the amount of the withdrawal and the province in which you live



5 Withholding tax is not applied if you only withdraw the minimum amount in each province


If you withdraw amounts above the minimum, the following withholding taxes will apply.



Applicable to residents of all provinces, except Quebec

Amount withdrawn above
the minimum amount
Withholding tax in all provinces,
except Quebec
Up to $5,000 10%
$5,001 to $15,000 20%
More than $15,000 30%



Applicable to residents of Quebec

Amount withdrawn above
the minimum amount
withholding tax
withholding tax
Up to $5,000 5% 16%
$5,001 to $15,000 10% 16%
More than $15,000 15% 16%



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