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Is this guide for you?
v/ R, \$ l& u% i. B7 l% SUse this guide if you want information about participating
, g% I. a# A1 o- x" x I2 N% vin the Lifelong Learning Plan (LLP).
7 F+ |, J2 @, z( u/ I1 ]The LLP allows you to withdraw amounts from your
3 w5 J9 l+ F3 y4 v$ B2 ?( Y" R; iregistered retirement savings plans (RRSPs) to finance
0 ^6 q- r) P2 v1 {; L* utraining or education for you or your spouse or + F+ o. X, @9 f. b- ?
common-law partner. You do not have to include the W6 X* Q" R/ r" E; m( k! _0 {2 E
withdrawn amounts in your income, and the RRSP issuer 6 C. b3 {/ r! f D
will not withhold tax on these amounts.
# @* I! l+ e8 u9 c6 @You have to repay these withdrawals to your RRSPs over a ( x; v% Q3 P5 L7 G. v' `+ e. D5 i) k
period of no more than 10 years. Any amount that you do 3 D( u( N; L9 I: e. A7 N8 _
not repay when it is due will be included in your income 9 c) J' l# z3 Z8 X" N- y) G4 G
for the year it was due. |
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