Tax rate on RRIFs

Question: In a recent article, Gordon Pape refers to a marginal tax rate concerning RRIFs of,”say 48%”. I thought the maximum was 40%? – T.D.-J.

Answer:

There is no maximum tax rate for RRIFs. The income from these plans is taxed at your marginal rate.

The top rate in most provinces is in the 48% range but in a few cases it is higher. – G.P.