FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

Hidden

What's the best time to contact you?*

Location*

What city do you live in?*

Hidden

Source

How can we help you?

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

RRSP cash out

I lost my Job an year ago and am in finacial trouble. As I have not been able to find job that pays the same.How much percent do I loose if I cash my RRSP. Is there any way to get help from government so you dont get penalized. So I can pay depts so I dont have to go Bankrupt.

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “RRSP cash out”

Barton Goth GCO Bankruptcy Trustees said...

In terms of the level of tax that must be remitted for the withdrawal of RRSP’s, as this is based on the existing tax rates you are subject to this will depend on the amount of money withdrawn and the level of income you have that year.

In terms of other government programs, their are things like employment insurance, but without something more unusual than unemployement there are not a lot of other programs to aid with repayment of debt.