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Is this guide for you? 5 J; X) ?: \6 V# z; l& v
Use this guide if you want information about participating - U5 P! d7 Q. s5 N. r, U, w
in the Lifelong Learning Plan (LLP). " Z1 Q5 K# K1 g# h2 g, u
The LLP allows you to withdraw amounts from your
; G3 D* q" \, Q; p5 G( ^4 w5 Jregistered retirement savings plans (RRSPs) to finance
6 S: Q: e, t; i4 Z: C8 J5 \training or education for you or your spouse or / ]/ P" i1 J! k0 C# g
common-law partner. You do not have to include the
" [3 f/ a, m. Ewithdrawn amounts in your income, and the RRSP issuer
7 [& P% b+ g& a4 k1 wwill not withhold tax on these amounts.
8 R, |- \0 C8 x- u# tYou have to repay these withdrawals to your RRSPs over a
4 p& A8 z! C6 ]0 k. S6 ~1 rperiod of no more than 10 years. Any amount that you do ! F8 G+ ]0 m, X; X
not repay when it is due will be included in your income 6 W/ a$ N, U) m/ Q: d; n0 C8 n
for the year it was due. |
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