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Hey! I have a fam member who makes 130k in income and is getting a 12k bonus. If they were to deposit it into their RRSP it doesn’t get taxed… let’s say they deposit it and then decide to withdraw it later in the year with two 5000 dollar withdrawals. Would they just pay the 10 percent tax on that or how would it work? Any help is appreciated.

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1 year ago