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Is this guide for you?
1 c2 f. \; ~! L7 X ^3 {2 P6 n7 YUse this guide if you want information about participating
* D$ d6 H& S- F1 Y8 V, {in the Lifelong Learning Plan (LLP). % G8 M* D0 C+ w( Q& u% D
The LLP allows you to withdraw amounts from your 5 u1 D( T8 t, W) X G% i, U- l
registered retirement savings plans (RRSPs) to finance
6 f1 r9 f; U- ^training or education for you or your spouse or 6 E7 D8 d7 A; Y& K/ l4 ~
common-law partner. You do not have to include the , _2 c4 b, I& ~* J
withdrawn amounts in your income, and the RRSP issuer + g! S: v9 j/ ~
will not withhold tax on these amounts. , c8 T" b: n& C
You have to repay these withdrawals to your RRSPs over a
- H5 P5 [" k$ \1 K0 c2 i5 Z vperiod of no more than 10 years. Any amount that you do
# V2 n6 D0 L2 N* H% M' p" U hnot repay when it is due will be included in your income $ X) c+ h. q2 Y `
for the year it was due. |
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