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Is this guide for you?
* n$ ?/ |& F7 x# Z4 o* kUse this guide if you want information about participating 8 @8 i- u: y3 c; X0 h0 @
in the Lifelong Learning Plan (LLP).
7 w/ \. @, |" e0 `0 h! ?# qThe LLP allows you to withdraw amounts from your 0 e( [ ?/ Z1 n! n j& I
registered retirement savings plans (RRSPs) to finance 8 T+ O* U3 w& ]3 \
training or education for you or your spouse or . L$ X. g8 I" _3 A# M
common-law partner. You do not have to include the 5 |9 ]+ M& N1 S* F- ` o, P
withdrawn amounts in your income, and the RRSP issuer % v( B' f; ^, ]" l
will not withhold tax on these amounts. 3 E, |2 ]6 g) a' b6 E
You have to repay these withdrawals to your RRSPs over a
& T7 e/ e8 M% Y1 ?8 Operiod of no more than 10 years. Any amount that you do - U: Y; `2 j3 N6 Q' t
not repay when it is due will be included in your income ! [" q( g0 m( f) p
for the year it was due. |
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