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Is this guide for you? , m( ]( a- {/ L0 G( x* I
Use this guide if you want information about participating
( v. {0 ^* g6 ?8 ? g% M! W6 qin the Lifelong Learning Plan (LLP).
% i. O' T6 C8 \/ c8 G0 ZThe LLP allows you to withdraw amounts from your 8 g# s4 ]' w, v, Q& J) S
registered retirement savings plans (RRSPs) to finance 8 S) n/ m0 ?+ A* l F$ E0 ~, W
training or education for you or your spouse or # M, `7 g0 |9 U% k
common-law partner. You do not have to include the $ l: L7 n, _5 Y
withdrawn amounts in your income, and the RRSP issuer ; j, {7 ]0 L# T; X
will not withhold tax on these amounts. ; s- c1 _* {/ y/ B9 S
You have to repay these withdrawals to your RRSPs over a * A" t) J3 l4 D
period of no more than 10 years. Any amount that you do / e( H4 t/ `" t) J3 I; ]
not repay when it is due will be included in your income
+ Z- D3 t6 l" Wfor the year it was due. |
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