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Is this guide for you? f2 n) H, y3 t
Use this guide if you want information about participating ! W0 @9 ~7 ^4 v9 d# Q$ }
in the Lifelong Learning Plan (LLP).
9 n6 a8 A) F7 C5 U% J2 g2 bThe LLP allows you to withdraw amounts from your
0 W# I; V: d! Q* [& K$ z: `% V$ Q0 Gregistered retirement savings plans (RRSPs) to finance 4 F4 ]& E6 J K) t, |( _0 Q5 S3 c
training or education for you or your spouse or - \9 m9 ^4 L7 K2 {) ^0 H
common-law partner. You do not have to include the
. q* V: X3 T: {7 j) j+ Ywithdrawn amounts in your income, and the RRSP issuer
# z- h1 j- b2 e# t2 Z3 Bwill not withhold tax on these amounts.
1 e, K0 \: V i. tYou have to repay these withdrawals to your RRSPs over a
7 i9 V2 J" _4 Q% f* Kperiod of no more than 10 years. Any amount that you do 8 u a0 i1 C, c: v1 C
not repay when it is due will be included in your income 8 [/ i4 _' R8 O X! q
for the year it was due. |
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