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Is this guide for you? + j3 q4 }2 f: I
Use this guide if you want information about participating
" k7 t+ u) ~7 }, ain the Lifelong Learning Plan (LLP).
) S* [1 ^- O$ P6 M PThe LLP allows you to withdraw amounts from your
{, W. ]3 }( m* ?7 }registered retirement savings plans (RRSPs) to finance / ~% p) G/ d; s6 ^1 M M3 T; A
training or education for you or your spouse or
, D: N7 a( Z# @: ]& G- _9 |7 {common-law partner. You do not have to include the # v7 z/ J2 [; ~4 a8 l5 b3 n& N
withdrawn amounts in your income, and the RRSP issuer
H5 E3 ^+ g2 E! f& o7 ~will not withhold tax on these amounts. 2 O$ b2 s1 g8 C" P) M
You have to repay these withdrawals to your RRSPs over a 9 l' I& e, a# W+ J& b
period of no more than 10 years. Any amount that you do
& `7 r m# \# F6 d1 j( unot repay when it is due will be included in your income 1 i9 C' p2 Q( S8 B7 L( j) q. V
for the year it was due. |
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