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Are RIF payments subject to withholding tax?
TD Direct Investing is generally not required to withhold tax on the mandatory minimum withdrawal amount.
TD Direct Investing is required to withhold tax on any amount in excess of the minimum payment.
Cash Withholding Rates:
3) $15,000.01 and greater
All Provinces Except Quebec (total federal and provincial)
Provincial Rate for Quebec
Federal Rate for Quebec
You can choose a withholding tax rate higher than the standard tax rate.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails.