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Is this guide for you?
1 ?& M/ f8 S; u/ cUse this guide if you want information about participating
. k+ U) l. m3 I4 X* j# G( uin the Lifelong Learning Plan (LLP).
% x% K7 f4 d0 l; r$ m2 M2 X* Q, ?8 [The LLP allows you to withdraw amounts from your ( s a7 {6 B L( ^& _
registered retirement savings plans (RRSPs) to finance ! d! M' r* O$ ^/ Z
training or education for you or your spouse or : Z. ~9 j7 D8 D# ]4 d) k; r. P
common-law partner. You do not have to include the
9 J# Y. D) A) F9 _0 f& qwithdrawn amounts in your income, and the RRSP issuer # j/ P( R4 t4 m0 b
will not withhold tax on these amounts. & J# d0 Z, w( w. h. d
You have to repay these withdrawals to your RRSPs over a 0 F" ~/ s# R% f% b( b5 n
period of no more than 10 years. Any amount that you do
Y |* d! k: o9 rnot repay when it is due will be included in your income
$ h; K7 a2 X' @, G, Q5 P: g# Gfor the year it was due. |
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