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Is this guide for you?
( U4 U/ ?( O6 ]) J) A, TUse this guide if you want information about participating
. g" _5 ?$ o* U# A/ l7 Din the Lifelong Learning Plan (LLP). $ k) Y: O$ K+ h8 s4 M$ N5 d+ i3 N
The LLP allows you to withdraw amounts from your
+ w' |7 }7 N: uregistered retirement savings plans (RRSPs) to finance ' b/ t1 K. n' I: C8 j
training or education for you or your spouse or , Z. v, L# ?2 R' A* I3 c
common-law partner. You do not have to include the
- r9 x2 ^9 K$ ~- p G" ?! |+ swithdrawn amounts in your income, and the RRSP issuer ; E$ E: i5 C) @6 X8 i
will not withhold tax on these amounts.
* [$ M+ _$ i3 m# uYou have to repay these withdrawals to your RRSPs over a - Y* W+ y' ]% w/ \) {3 B; z- S
period of no more than 10 years. Any amount that you do
2 E, r5 W4 c k% @! y* f. Enot repay when it is due will be included in your income
# a& F4 I) }( B' d" \. f% g) @for the year it was due. |
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