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Is this guide for you?
1 B2 }! x8 r( _# aUse this guide if you want information about participating
; V% M- f, l+ T5 C/ R) ein the Lifelong Learning Plan (LLP).
& F! t" t0 F$ H- a2 y* w( D, q: y. {% QThe LLP allows you to withdraw amounts from your
1 U4 c+ o8 Z8 C; c# ~registered retirement savings plans (RRSPs) to finance
& R+ l* {! b- A" k9 `- Xtraining or education for you or your spouse or : |; P8 s9 Y0 I
common-law partner. You do not have to include the 2 m& p" {) \/ Z1 ^2 z2 v' a
withdrawn amounts in your income, and the RRSP issuer 9 k5 Y; ]# v" s! ~; ~
will not withhold tax on these amounts.
- s; @/ Z% \* D Y5 y; y3 }% ^# \& TYou have to repay these withdrawals to your RRSPs over a
! P; h% F3 @1 Z, }0 Yperiod of no more than 10 years. Any amount that you do 1 M4 Y, U% I; m- |8 B# ]
not repay when it is due will be included in your income T- M e q( {
for the year it was due. |
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