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Is this guide for you? + f( u6 v4 X, a) k+ o0 w3 C5 }
Use this guide if you want information about participating / g. F3 a' P& O
in the Lifelong Learning Plan (LLP).
+ F) x$ | |, n& P4 DThe LLP allows you to withdraw amounts from your " T" \' _; v+ D7 X8 a1 H
registered retirement savings plans (RRSPs) to finance
) V0 c" o, Y% \5 K0 v) s3 F7 Xtraining or education for you or your spouse or
4 ]5 B* E7 h* N5 I d G9 fcommon-law partner. You do not have to include the
- w) t4 w! m* y9 {withdrawn amounts in your income, and the RRSP issuer 0 n2 O! M3 z% y9 N0 Q6 s! ^ {
will not withhold tax on these amounts.
- Y! _; g3 k$ |% E3 GYou have to repay these withdrawals to your RRSPs over a
, I5 s7 p2 @3 e5 Lperiod of no more than 10 years. Any amount that you do : j+ N0 Q! K* Q' ~6 d" D
not repay when it is due will be included in your income 5 I' R& d1 }3 p" w! @
for the year it was due. |
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