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Is this guide for you?
! d5 Q+ k+ ?4 R' k+ gUse this guide if you want information about participating
; F- K# P2 r$ t3 R0 b: K4 C) `in the Lifelong Learning Plan (LLP). # C1 ^. k; O2 U! u5 q+ ~% u4 L/ Z
The LLP allows you to withdraw amounts from your
5 r, `! [$ Z3 \" Gregistered retirement savings plans (RRSPs) to finance + X9 x9 @0 m) {7 h+ ]8 a6 t
training or education for you or your spouse or ) q n% G5 h! M i4 q, n
common-law partner. You do not have to include the + B+ E* q2 x2 \! z4 b
withdrawn amounts in your income, and the RRSP issuer & F% G5 u0 H7 G1 ~5 w) ]! l% @
will not withhold tax on these amounts.
* U, z) o1 F9 M7 p" Y' eYou have to repay these withdrawals to your RRSPs over a
0 K# E5 p0 f' xperiod of no more than 10 years. Any amount that you do ) C# S, A0 y: \+ ^6 e/ z0 h+ {' a
not repay when it is due will be included in your income . V. ~5 p/ X* L5 p! W
for the year it was due. |
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