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Is this guide for you? 8 a; `, `" y7 J$ y6 t+ o
Use this guide if you want information about participating $ c, _7 _2 N' ], N9 t6 }) l
in the Lifelong Learning Plan (LLP). 9 {5 W- D. D s
The LLP allows you to withdraw amounts from your 0 d3 [0 G/ u0 `6 K4 A
registered retirement savings plans (RRSPs) to finance y6 L1 w+ _; L% M7 e
training or education for you or your spouse or 1 e+ ~1 Q9 B+ _, Z+ E
common-law partner. You do not have to include the $ I& X6 w( S0 d- G0 v( s
withdrawn amounts in your income, and the RRSP issuer
5 s( Q% X3 I- N" z- g$ Vwill not withhold tax on these amounts.
4 K9 O/ A4 m! g: F, L" qYou have to repay these withdrawals to your RRSPs over a
! I, p+ w+ G% r* C2 o2 Yperiod of no more than 10 years. Any amount that you do
+ e; G2 U, E/ e: K/ rnot repay when it is due will be included in your income
# Z% H5 B: L" e% jfor the year it was due. |
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