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Is this guide for you?
8 Z# |! d0 H! S* N& E O% gUse this guide if you want information about participating
! ~* |4 [" [6 N9 @in the Lifelong Learning Plan (LLP). ' \+ ~1 {% I3 H( [* {3 t
The LLP allows you to withdraw amounts from your
6 f$ j/ l& o: @/ o2 l5 `registered retirement savings plans (RRSPs) to finance 0 ]& J, ~9 d: j. Z, v. [1 r
training or education for you or your spouse or $ K' {" G- G# l% d& p; `9 ~7 X
common-law partner. You do not have to include the ; N. o5 u' {, }7 C* L6 `5 d
withdrawn amounts in your income, and the RRSP issuer
/ @' _7 p! g, i( Q2 Dwill not withhold tax on these amounts.
3 p9 l# n( B( r3 c* S% q5 P; gYou have to repay these withdrawals to your RRSPs over a ; ]' G' i* D8 X) m$ X4 w" Z
period of no more than 10 years. Any amount that you do 8 @' x+ m6 f, B* Q8 `+ T
not repay when it is due will be included in your income * D2 z; K0 B4 O9 h* i, v, }/ p
for the year it was due. |
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