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Is this guide for you? 6 `' B6 v- S0 F9 M- r
Use this guide if you want information about participating 8 w. ~( R0 a. Y1 ]% k9 `5 d
in the Lifelong Learning Plan (LLP).
- |! H& {% f( OThe LLP allows you to withdraw amounts from your
' G3 N; \9 S! w# g( nregistered retirement savings plans (RRSPs) to finance ) R0 v) X3 }! q9 j5 Y, w% F. z
training or education for you or your spouse or " U) d- Q z# p5 v& A" M
common-law partner. You do not have to include the ; e/ A9 S+ _% }: r3 ~+ {
withdrawn amounts in your income, and the RRSP issuer
( V/ n4 ^: _2 t! F% m. Nwill not withhold tax on these amounts. 2 ]7 B, d9 R1 m. p1 v+ R" t# P
You have to repay these withdrawals to your RRSPs over a
8 g6 _# p. [8 L; u0 d! J+ X hperiod of no more than 10 years. Any amount that you do
- }5 i, q9 a8 @! enot repay when it is due will be included in your income
% |8 i8 x4 e& O: J- O5 ~, Nfor the year it was due. |
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