(Canada) RRSP Lump Sum Withdrawal
Posted: Wed Sep 23, 2020 6:25 am
I am a tax resident of Japan and hoping to withdraw some cash from my RRSP (tax deferred) account in Canada.
The Canadian Bank will withhold 25% for withholding tax and pay the remaining amount to me. How do I handle this on my Japanese Tax Return? Is this considered income by the NTA or just a transfer of funds between accounts?
The Canadian Bank will withhold 25% for withholding tax and pay the remaining amount to me. How do I handle this on my Japanese Tax Return? Is this considered income by the NTA or just a transfer of funds between accounts?