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Is this guide for you? F* ?+ t+ M7 S3 e
Use this guide if you want information about participating
" l- o7 h9 {3 w. Z+ e# jin the Lifelong Learning Plan (LLP).
2 X* w) E% k( U! DThe LLP allows you to withdraw amounts from your
) Q, p6 l8 g6 l9 C3 Q; ?2 e5 J' Tregistered retirement savings plans (RRSPs) to finance 3 A6 [! z: _9 Q& Q
training or education for you or your spouse or ; S. c4 r# s! L* n8 A8 Z8 p& E; V
common-law partner. You do not have to include the
9 o. _7 X; B9 swithdrawn amounts in your income, and the RRSP issuer
7 f" S1 z, R, h' P( iwill not withhold tax on these amounts.
}7 z3 [3 j6 c8 H0 }You have to repay these withdrawals to your RRSPs over a ! b4 h! L. t. {! b
period of no more than 10 years. Any amount that you do % \8 b2 T! k! J, T# V0 H
not repay when it is due will be included in your income N6 o! z5 t& z0 y7 t y- m( ^
for the year it was due. |
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