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Is this guide for you? , K; J: B' t0 J! f3 }- Q) Z5 N
Use this guide if you want information about participating
7 ]" d5 i% E4 ^: @in the Lifelong Learning Plan (LLP). 3 f, C7 E9 y# \+ [7 L" b
The LLP allows you to withdraw amounts from your + p, l l( S0 k# u# l3 u0 S& q5 ~$ w7 B+ R5 \
registered retirement savings plans (RRSPs) to finance
+ j3 X. b) {. l, o; \training or education for you or your spouse or
2 G L) B8 `: U3 Kcommon-law partner. You do not have to include the
3 ?7 f: O- L; M. X6 u3 v3 z/ C* Z, Nwithdrawn amounts in your income, and the RRSP issuer
* _: D' G0 I/ S. ^: h! zwill not withhold tax on these amounts. ; n: c7 t' }# M% R4 D
You have to repay these withdrawals to your RRSPs over a
: [$ M( r6 ?0 I' b8 b, mperiod of no more than 10 years. Any amount that you do
g7 x5 J/ H3 h- {; s! B4 rnot repay when it is due will be included in your income
5 V) R' Y# t Z* Zfor the year it was due. |
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