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Is this guide for you?
; Y/ L& \0 L, ]% {2 ~9 v( q, yUse this guide if you want information about participating
" K& }/ C5 r' B5 h/ xin the Lifelong Learning Plan (LLP). & Z+ y+ n/ _: F, X* U" ]
The LLP allows you to withdraw amounts from your 1 R+ g5 h/ p* |4 |5 N
registered retirement savings plans (RRSPs) to finance 6 v- D: H0 d8 G2 e+ s. U/ ^6 ~
training or education for you or your spouse or + X; E) l, {! |$ V9 Y% v; I% T: q& Q
common-law partner. You do not have to include the
' t% y. q, ]6 w8 hwithdrawn amounts in your income, and the RRSP issuer
/ _' d1 G1 \2 y0 \3 owill not withhold tax on these amounts.
1 M. j4 s: U# h5 ]You have to repay these withdrawals to your RRSPs over a
3 E& s9 K. m) Z$ S" \( yperiod of no more than 10 years. Any amount that you do
3 q. q0 F5 B9 u* |- \$ C( I! a2 Pnot repay when it is due will be included in your income
6 F# r2 q/ U' q3 Z7 J4 Cfor the year it was due. |
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