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Is this guide for you?
; |# U, J) D4 W* ^Use this guide if you want information about participating
% l9 H, j) A: W* y* x( g9 h( F8 ^in the Lifelong Learning Plan (LLP).
' t$ |8 @, z3 g9 T) U u+ oThe LLP allows you to withdraw amounts from your # O C' b8 E6 v- C* b: g1 x2 N
registered retirement savings plans (RRSPs) to finance 1 ~. x1 X3 a$ U5 `
training or education for you or your spouse or . p) U. V* R4 M2 }3 v) W7 ^- s: p
common-law partner. You do not have to include the 8 M- o' f" U% W) Z& @3 e
withdrawn amounts in your income, and the RRSP issuer
7 e' \, y; S9 J3 @* H; o" Ewill not withhold tax on these amounts.
Q. j4 z6 G8 M& c5 cYou have to repay these withdrawals to your RRSPs over a / F' o5 k' [. `0 r
period of no more than 10 years. Any amount that you do k$ O4 d/ N s& }5 V
not repay when it is due will be included in your income
5 j$ r1 E: I* l5 Afor the year it was due. |
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