2. Income Tax on RRSP Withdrawals
The amount withdrawn is added to your total taxable income for the year. Since you specified you have zero income, the RRSP withdrawal will be taxed according to the federal and provincial tax rates applicable to your taxable income.
If your total income (including the RRSP withdrawal) is below the basic personal amount ($15,000 federally in 2024), you likely won’t owe any additional income tax. This means you could get back most or all of the withholding tax when you file your tax return.