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Is this guide for you? 3 ? ]' Q/ \* s+ t+ K' F
Use this guide if you want information about participating / U7 \* c; K' g, ~& U9 {
in the Lifelong Learning Plan (LLP). 6 _* e2 X) z+ C m, Q6 x
The LLP allows you to withdraw amounts from your + f' x1 q2 L- I
registered retirement savings plans (RRSPs) to finance # S6 E! P/ t6 c, b% S, c
training or education for you or your spouse or 2 O" z8 e8 r: u8 K& g" O8 ~9 n
common-law partner. You do not have to include the
' f. e0 s! a/ O9 z9 _withdrawn amounts in your income, and the RRSP issuer ( }9 C# I; h1 x; V
will not withhold tax on these amounts. - S3 j9 a4 v5 T" }/ \" f
You have to repay these withdrawals to your RRSPs over a
9 K/ `& i. w' ~period of no more than 10 years. Any amount that you do 3 | c4 R) a% L3 i
not repay when it is due will be included in your income
: A8 K+ p% ]( w* N: j: g& tfor the year it was due. |
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