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The Canada Revenue Agency (CRA) has information on tax rates on withdrawals. The Ontario Securities Commission (OSC) is an independent Crown corporation that is responsible for regulating the capital markets in Ontario. The OSC does not regulate insurance companies or insurance products, such as segregated funds, and we do not oversee estate planning matters such as probate taxes.
The tax implications may vary based on the individual plan. Youll also permanently lose the contribution room you originally used to make the contribution.