panpacific
1 Answer
Dardaigh
Normally, you will turn your Registered Retirement Savings Plan (RRSP) into income:
* The year you retire; or
* No later than the end of the year you reach age 71.
Of course, you can also withdraw money from your RRSP before you retire. If you do, the financial institution where you keep your RRSP account may hold back some of the money for taxes. They send the tax payment to the government on your behalf. This is called a withholding tax.
| 13 years ago. Rating: 1 | |
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