What tax is deducted from RRIF or RRSP withdrawals?When a single lump sum amount is withdrawn from an RRSP, the amount of tax that will be withheld is:Withdrawal Amount-----------% Tax WithheldFrom $0 to $5,000------------10% From $5,001 to $15,000-------20%Greater than $15,000---------30% Note that the above withholding tax amounts are only estimates, which you will show on your tax return as taxes already remitted. The withdrawal amount will be included in your taxable income. Your total taxable income will determine the total taxes payable.