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Is this guide for you?
( w( S! s# U* i* i2 ~Use this guide if you want information about participating " D$ r/ H. Z6 \& C5 e! T' F9 g4 s
in the Lifelong Learning Plan (LLP). 2 ?* G/ ?+ W. w, _
The LLP allows you to withdraw amounts from your
/ w, {2 {* K! ?! I u1 I9 x7 Kregistered retirement savings plans (RRSPs) to finance
' ?1 |* a8 E- }, Ltraining or education for you or your spouse or $ X, u, L( }3 Y( I' A" M
common-law partner. You do not have to include the & e/ o" [! b7 i( y6 Z$ S
withdrawn amounts in your income, and the RRSP issuer 6 K" |; I3 |0 A8 ^5 m. W
will not withhold tax on these amounts.
" v, G9 g2 F% i0 n4 YYou have to repay these withdrawals to your RRSPs over a 1 G* W6 y7 M* {
period of no more than 10 years. Any amount that you do
& n' e8 W& W) g, Tnot repay when it is due will be included in your income 9 y; u& U8 U* f& y1 Y
for the year it was due. |
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