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Is this guide for you? ! A( X6 N- P- U- K, Y: n3 I
Use this guide if you want information about participating " S. I! [5 h# j, W8 D
in the Lifelong Learning Plan (LLP).
, d1 ^% k$ z' @6 ]: f3 f VThe LLP allows you to withdraw amounts from your
+ S. L6 F% s8 v, U* M& Xregistered retirement savings plans (RRSPs) to finance - F- H# b! Y# E8 @( u
training or education for you or your spouse or 7 H" r% F, I; T% n* z2 ?
common-law partner. You do not have to include the . _. M8 E H9 R! g7 N m/ k6 ^
withdrawn amounts in your income, and the RRSP issuer $ C; N- r' \: e
will not withhold tax on these amounts. $ m: w8 m3 v& N8 \1 K4 G2 C
You have to repay these withdrawals to your RRSPs over a 7 c# c( j. J6 K
period of no more than 10 years. Any amount that you do 5 v6 ^) o0 O) |' F
not repay when it is due will be included in your income
4 ?& N9 e7 Q2 `: D8 o Efor the year it was due. |
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