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Is this guide for you? 3 y7 X, c6 @9 X
Use this guide if you want information about participating
; R; q* ~3 Y+ _7 a+ y# `0 f0 lin the Lifelong Learning Plan (LLP). ) P7 a4 H9 z5 Z$ X+ S8 }1 o
The LLP allows you to withdraw amounts from your
! o+ d0 J# k, h# iregistered retirement savings plans (RRSPs) to finance
$ U" R9 ]% g+ e% d& ftraining or education for you or your spouse or # X# R6 n; m4 J5 J$ ~2 I( q C
common-law partner. You do not have to include the
1 {6 K2 A3 B; j0 Vwithdrawn amounts in your income, and the RRSP issuer 6 y* ^& x+ N* _, T' U
will not withhold tax on these amounts. ! u$ g5 v6 J0 c
You have to repay these withdrawals to your RRSPs over a 0 e) t- k" K) C* R* W4 ^! A8 @$ c6 n
period of no more than 10 years. Any amount that you do
9 E& d7 ^2 n4 M5 j0 P; g4 Inot repay when it is due will be included in your income . J; O) c Q& D, Q" g- N! H* q
for the year it was due. |
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