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Is this guide for you? : U) p. Z& m" |% e
Use this guide if you want information about participating
/ W/ }1 S4 \9 J& ~2 min the Lifelong Learning Plan (LLP).
( @9 K/ x; m+ d& f3 J! D6 }4 cThe LLP allows you to withdraw amounts from your 3 Y2 }- d" [5 X( f- M$ C" L6 R& l
registered retirement savings plans (RRSPs) to finance ) C8 D2 N0 b# a. L* b
training or education for you or your spouse or 7 I. q1 D1 q5 M6 n* v7 u" _) i
common-law partner. You do not have to include the
: I1 r4 G& o5 j, t0 h5 f, T3 i" }7 Ywithdrawn amounts in your income, and the RRSP issuer 0 v% v( J$ K4 f* J, C
will not withhold tax on these amounts.
- K+ l) `. @- u( n& g" o4 Y: kYou have to repay these withdrawals to your RRSPs over a
8 u U, E7 }* N6 A, o& ~period of no more than 10 years. Any amount that you do " ~: z8 q& }- n1 `
not repay when it is due will be included in your income
1 `1 s' c" @# L8 V! B; H0 H, rfor the year it was due. |
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