RRSP and withdrawing before age 65
I know the room is not gained back after withdrawing (like a TFSA). I'll also want to have 0 in RRSP by 65 (and 0 income) so that GIS will not be clawed back come age 65 (OAS + GIS will be about 1400/m + whatever savings I'll have in HISA, but not considered income).
Regarding the automatic tax held when withdarwing an RRSP before age 65, I understood it's 10% to 5k, 20% 5-15k, 30% for more than 15k.
If more tax is withheld using this fixed percentages, will I get a refund come tax time? (articles mention if in higher bracket these fixed percentages might not cover total tax owed, which makes sense).
So if I withdraw 10k, 2k is being held automatically upon withdrawal and I receive 8k, which will be considered income. If this 8k + whatever my income makes me owe 5k in taxes, but I paid let's say 6k (4k in taxes + 2k from RRSP), will I get 1k refund come tax time? Articles don't seem to confirm this, only if you owe more in taxes than being withheld, which again, makes perfect sense.
Also, withdrawing from an RRSP is exactly like TFSA? Just setup a transfer out from the account (or brokerage if I hold stocks in RRSP and sell)?