RRSP will not be counted as the income in the year when you withdraw. It has been counted already when the income was generated. The money in RRSP is considered as tax delay which means tax would be generated when you withdraw.usheraz said:Hi friends- Can I ask you regarding required income for parents sponsorship.
My question is whether or not Income withdrawn from RRSPs in a certain year included in total income calculations for that year? did someone have such experience? Please advise.
Thanks in advance
If you check your NOA, you will find that year's income is not less because you contributed to the RRSP. Just the taxable portion was less.
If you want to increase your income, you have to find another way to do it.