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Is this guide for you? ; |) J2 L1 L9 F0 h6 K% w- s
Use this guide if you want information about participating 4 E$ l& ]" ^& p) o& { t: X
in the Lifelong Learning Plan (LLP).
* ~9 b/ R7 \ a8 Z8 {5 M" ]% @( GThe LLP allows you to withdraw amounts from your 6 h- s' f5 @: ]+ W& N
registered retirement savings plans (RRSPs) to finance
+ w& A1 Z, y0 Q& L3 c# Atraining or education for you or your spouse or $ R" E0 e( X0 m3 S3 V p) V8 x8 d- A: J z! n
common-law partner. You do not have to include the
# \4 X5 h6 |, N: b7 m- H0 u, bwithdrawn amounts in your income, and the RRSP issuer
3 S: r: Y4 o; U+ B: u1 Vwill not withhold tax on these amounts.
" h; E: h; z4 m2 ~# e. v' VYou have to repay these withdrawals to your RRSPs over a 9 N! ? a4 G- m5 ~
period of no more than 10 years. Any amount that you do 7 C d/ S, F6 U4 R4 F3 Z
not repay when it is due will be included in your income
: H" }# c. h0 |& }% W/ }4 j8 Y! Qfor the year it was due. |
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