If you opt for the most tax deferral and draw your TFSA down first, it could mean you're taking larger taxable withdrawals from your RRSP and holding company in later years and paying more tax in the long run, at the expense of some short - term tax savings. (moneysense.ca)
Loans that are not repaid are treated as taxable withdrawals, meaning the full amount is subject to ordinary income tax plus a 10 percent early withdrawal penalty if you are under age 59 1/2. (creditsesame.com)
Many qualified retirement plans require taxable withdrawals beginning at age 70 1/2, and the withdrawals are calculated based on your age and a number of other factors. (jackson.com)