RRSP withdrawals must be part of your tax planning strategy. It is extremely important to understand the implications of Registered Retirement Savings Plan (RRSP) withdrawals on your taxable income in the year you make the withdrawal.
Below is a well written article that highlights the implications of RRSP withdrawals, and provides a good understanding of the tax system. Remember, seeking professional tax advice is always a prudent strategy.
Running afoul of the CRA on RRSP withdrawals can be a costly mistake