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Is this guide for you?
% Z6 D' Z5 n# w& J! j# vUse this guide if you want information about participating
! U& N$ [8 ^' e' Q, v# p5 X1 sin the Lifelong Learning Plan (LLP). ! V6 v1 _# {4 M9 d5 i
The LLP allows you to withdraw amounts from your
0 |$ u: o- u4 L. ~registered retirement savings plans (RRSPs) to finance
2 Z" h% Q1 D- j. u' utraining or education for you or your spouse or 9 ~7 ^7 N: k7 t+ w, h
common-law partner. You do not have to include the
. F7 f1 ?* J7 bwithdrawn amounts in your income, and the RRSP issuer
$ I U, W3 B; r7 Jwill not withhold tax on these amounts.
" @- U8 O1 z+ f; H$ }3 w) p% U( wYou have to repay these withdrawals to your RRSPs over a # M8 V2 X4 f: y% ?! K& P5 j7 C
period of no more than 10 years. Any amount that you do
: v% i9 L( Z8 Q9 L# m0 ]1 `% ?not repay when it is due will be included in your income
8 e9 h. Q: l) P* G) D, xfor the year it was due. |
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