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Is this guide for you?
) H: J1 r- a( w0 MUse this guide if you want information about participating 8 B7 }$ J( r* S2 x7 ~+ p) [& h
in the Lifelong Learning Plan (LLP). 9 X+ C4 z9 Z3 t n9 O6 E% r
The LLP allows you to withdraw amounts from your ; x' O" G/ ~3 U. u; L, e, ~
registered retirement savings plans (RRSPs) to finance 9 L4 I) d# Z3 H' k! x& D6 _( V
training or education for you or your spouse or 2 ~3 l4 T& X( J/ P
common-law partner. You do not have to include the 7 o6 j$ h4 a, l1 Z; `, f
withdrawn amounts in your income, and the RRSP issuer + H/ @/ Z" y) m8 |: z! t4 {3 J
will not withhold tax on these amounts.
3 O" b; n, }2 d( r# f& UYou have to repay these withdrawals to your RRSPs over a 5 w" O' _& m. b8 j* C N3 d
period of no more than 10 years. Any amount that you do 0 l( o( s# z7 l( I. o h2 v
not repay when it is due will be included in your income
: w6 D( u% V" {. Afor the year it was due. |
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