Retirement Tax Calculator (Canada)
See your tax wedge in retirement and understand why gross withdrawals can be higher than your after-tax spending gap.
What this tax calculator shows
The simulator estimates year-by-year federal and provincial tax effects in retirement. It separates net withdrawal needs from gross withdrawals required, so tax drag is explicit.
You can also see when taxes peak and whether OAS clawback contributes to the spike.
Core concepts in 30 seconds
- After-tax spending is what you need to live on
- RRSP/RRIF withdrawals are taxable
- Gross withdrawal = net cash needed + tax wedge
- RRIF minimums can increase taxable income later
Frequently asked questions
Does this include both federal and provincial tax?
Yes. The planner uses a planning-level federal + provincial tax approach for your selected province.
What is peak tax year?
It is the year with the highest projected total tax, often driven by RRIF minimums, high withdrawals, or clawback.
Can strategy changes reduce tax drag?
Often yes. Use scenario compare, CPP/OAS timing tests, and RRSP strategy previews to test.
Is this a tax filing tool?
No. This is a planning simulator, not a filing or compliance tool.
Why use the full planner?
Tax drag is only one part of the answer. The full planner shows how taxes interact with CPP, OAS, pensions, RRIF minimums, savings withdrawals, and overall retirement sustainability.
Continue your planning
OAS clawback calculator | RRIF minimum withdrawal calculator | CPP timing calculator Canada | Canadian retirement income calculator
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