When a client asks whether to leave the RRIF alone or draw it down faster, show them what each pace costs: the lifetime tax and Old Age Security recovery either way, and the tax the balance would face on death, then turn it into a client-ready letter.
The calculation is only half the work. CodaraFlow finishes the explanation, the tables, and the client-ready letter.
Whether to take the RRIF minimums or draw down faster is a question about the next thirty years, and the answer turns on the tax left on the balance at the end. Both paths run year by year to the horizon, so the client gets a comparison rather than a rule of thumb.
The statutory minimums and an accelerated schedule topped up to a target income you set, side by side, year by year, with lifetime tax and OAS recovery for each.
The balance remaining at the horizon is modelled as fully taxable on the final return, which is usually the figure that decides the question.
The recovery tax starts when Old Age Security begins, capped at the annual pension, at a start age from 65 to 70, so the interaction between drawdown pace and clawback is part of the answer.
A different pace is a changed number, not a rebuilt schedule, so the client can be shown two or three options in the same meeting.
The recommendation is delivered in an advisory letter written in the firm’s approved wording.
This is one of the built-in calculations in CodaraFlow. Enter the age, the balance, an assumed return and the client’s other income, and it runs the fund to the horizon two ways: at the statutory minimums, and accelerated to a target income that fills the lower brackets.
The number is not the deliverable. In CodaraFlow the result drops straight into a letter section: the firm’s approved wording, the lifetime-totals comparison, a compact banded schedule, and the notes on the today’s-dollars basis and the tax on death, written in for you. Exported as an editable Word document on your letterhead.
The same reviewed explanation, not whatever the preparer types today.
The summary sentence adapts to the figures: the lifetime saving when accelerating helps, and a plain note when a target is below the minimums.
The minimum-only and accelerated schedules are laid out in age bands and footed automatically, with the tax on death called out.
Finish it in Word, on your firm’s letterhead. No proprietary format.
The comparison reflects the rules that govern a RRIF drawdown. The wording is firm-editable.
A prescribed percentage of the January 1 balance each year: 1/(90 − age) before 71, then the published schedule rising to 20% from 95.
RRIF withdrawals are taxable in the year received, stacked on the client’s other income at graduated rates.
Income above the annual threshold recovers Old Age Security at 15%, up to the full pension received.
The fair market value of the RRIF is generally included in income on the final return, though that inclusion may be reduced or avoided where the fund passes to a surviving spouse or common-law partner, or to a financially dependent child or grandchild.
The figures are a planning illustration in today’s dollars at today’s rates: the brackets are not indexed, other income is held level, and amounts withdrawn are not assumed to earn a further return. The right pace depends on cash-flow needs, other income, and estate goals, and remains professional judgment.
Every calculator produces a planning estimate for a qualified practitioner to review. Renshi CodaraFlow does not give tax advice.
Get a working demo account, run this calculation on a real file, and export the letter it produces.
Everything is computed from the figures you enter and assembled from your firm’s approved wording. The app never connects to AI.
Editable Word documents on your firm’s letterhead. Monthly pricing, no long-term contracts.
No. It’s one of the built-in calculations inside CodaraFlow. The result becomes a client-ready letter section, complete with the schedule and the notes that apply, not just a figure you copy into a client letter.
It models the OAS recovery tax on the withdrawals, with an optional OAS start age of 65 to 70. The start-age decision itself is the CPP / OAS calculator’s job; the two are meant to be used together.
Yes. Every sentence and every note is firm-editable, and can be overridden on an individual letter.
No. The app never connects to AI. Deliverables are assembled from structured facts and your firm’s approved wording.