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Is this guide for you?
% ?7 x, g v) B* ~Use this guide if you want information about participating 1 _) M- i& m7 i+ b6 @+ _
in the Lifelong Learning Plan (LLP).
% A, A I' o# \: m1 rThe LLP allows you to withdraw amounts from your
2 r; `, k1 P4 E& E/ Cregistered retirement savings plans (RRSPs) to finance 7 M9 ?. O4 U N- w8 c' X4 d7 Z& d
training or education for you or your spouse or
2 L8 ~" \; H/ gcommon-law partner. You do not have to include the 2 i7 u, {$ \( F# {0 L- ?
withdrawn amounts in your income, and the RRSP issuer
% n6 i, N% P2 B9 ]will not withhold tax on these amounts.
9 Z5 Y% z; U% X+ w2 U+ fYou have to repay these withdrawals to your RRSPs over a
. }! s; w: s6 Z1 f+ uperiod of no more than 10 years. Any amount that you do
+ g8 Z* q. w, X" w; `& \, |0 ~not repay when it is due will be included in your income , Y0 |* x' f& l7 G! \" a! M
for the year it was due. |
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