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Is this guide for you? # h: B" X# M1 [9 u3 o" e4 y
Use this guide if you want information about participating
4 g( e, n1 S$ Q1 Qin the Lifelong Learning Plan (LLP). $ _0 h& N' x) i
The LLP allows you to withdraw amounts from your / v. I T" h9 N/ ?. z/ b
registered retirement savings plans (RRSPs) to finance ( x; M5 K) D' u3 \
training or education for you or your spouse or
1 K8 a4 q* ^1 v: u7 h ~. S7 J4 lcommon-law partner. You do not have to include the . d+ ~, `3 h7 X4 o
withdrawn amounts in your income, and the RRSP issuer
0 X' `9 ~$ {0 u, x) [5 ~8 Awill not withhold tax on these amounts.
; p# |8 b3 v1 h9 MYou have to repay these withdrawals to your RRSPs over a # F4 x, O; T5 p7 i
period of no more than 10 years. Any amount that you do . n6 F/ E7 M* j. v# z5 ^
not repay when it is due will be included in your income
, K! I* ?( b: Q# Q0 G n& Afor the year it was due. |
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