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Is this guide for you? + Q e5 J# ^$ ~! ~' e$ ?0 r
Use this guide if you want information about participating
/ M. _) u( p' h5 l! U- a; Jin the Lifelong Learning Plan (LLP).
8 X' F3 w$ Q, r! o8 n9 l+ sThe LLP allows you to withdraw amounts from your 0 B4 Y2 j r7 S% b, V
registered retirement savings plans (RRSPs) to finance
; W' W6 T& D. o9 r- htraining or education for you or your spouse or 8 ~' v- o% M K& T7 G L% l4 Z
common-law partner. You do not have to include the
7 N d; V) |7 G+ ?withdrawn amounts in your income, and the RRSP issuer + V. R& j) s. x5 L) J0 Z4 s/ }
will not withhold tax on these amounts.
( `, o+ h7 [7 m+ T4 m; |! Q+ l, eYou have to repay these withdrawals to your RRSPs over a
# j3 W) V+ a! G6 a, S1 ~3 |# mperiod of no more than 10 years. Any amount that you do ! @# t- E3 Y6 Z6 m/ d7 m6 ^
not repay when it is due will be included in your income * c2 v1 k) x+ e/ c. m8 ?, A
for the year it was due. |
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