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Is this guide for you? 9 a Q+ I7 F' u* |$ x; Q+ t
Use this guide if you want information about participating - u+ F. C1 \. U, n
in the Lifelong Learning Plan (LLP).
5 ~+ l1 o- R# S9 R% `$ f1 rThe LLP allows you to withdraw amounts from your
0 c2 r. D3 R$ R- f z. }registered retirement savings plans (RRSPs) to finance
- P! {3 ]/ t, U1 otraining or education for you or your spouse or ' ~3 z# {8 M1 D# t0 f D
common-law partner. You do not have to include the
5 x* K! o! ]0 k* ywithdrawn amounts in your income, and the RRSP issuer
; U8 W5 \, f* @8 K0 ?# f, R7 o O& k! dwill not withhold tax on these amounts.
3 ^; \ i9 e# [3 l) X0 xYou have to repay these withdrawals to your RRSPs over a
# k% |( j9 q- [! E3 Cperiod of no more than 10 years. Any amount that you do M( b2 ^- @$ o _$ Y0 Z" D/ z
not repay when it is due will be included in your income
5 [$ q8 R) E% z" b5 k3 v) Ofor the year it was due. |
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