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Is this guide for you?
' p* x" Z# h( ]2 t/ w/ x2 x tUse this guide if you want information about participating
/ [$ `6 S0 S9 T% G, F& B6 E I" K& Hin the Lifelong Learning Plan (LLP). $ P# d' l2 g& O- Y0 F6 B9 z* ]
The LLP allows you to withdraw amounts from your ( ^9 C! T& R* W k4 ]0 r' S
registered retirement savings plans (RRSPs) to finance W o6 e* r$ L3 n, N1 b, w
training or education for you or your spouse or
- x9 u* K1 L0 v' wcommon-law partner. You do not have to include the
) }' x* L5 M/ ]; H: p( M% \) @withdrawn amounts in your income, and the RRSP issuer 0 D( O, X! V* o7 P& J7 a
will not withhold tax on these amounts. ' N8 W9 J: f z8 H
You have to repay these withdrawals to your RRSPs over a : o6 q; U3 R) ^3 ^" l
period of no more than 10 years. Any amount that you do ' v `9 r7 i( A! S" a( F
not repay when it is due will be included in your income
7 W* E6 e9 S8 ]. B# u8 Sfor the year it was due. |
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