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 RRSP Withdrawal Request Simplii FinancialTM 2020-2024

Simplii Rrsp Withdrawal 2020-2024 Form

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foreign [Music] how you doing I'm Ken Tilley welcome to the channel and today I'm going to talk to you guys quickly about uh taking money out of your rrsp you know maybe in retirement or even before retirement and how that actually works and it's pretty simple but it was kind of confusing to me in the very beginning so uh I just want to maybe clear up probably the biggest sort of thing that people get confused about when they do this so uh the first thing that we need to look out and you look at my fancy word document um is every time you take money out of your RSP from an institution there is going to be a withholding tax that the institution is going to withhold and they're going to provide that information and and that money to the government but that isn't the actual tax that you owe that is just so they're rough kind of calculation that they use in order to help you potentially not get trapped with a big tax bill at the end of the year because you hadn't set aside that money so th

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