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Is this guide for you?
4 [, M, }5 h# g, @& T1 V9 k9 dUse this guide if you want information about participating
. k) a8 Z$ ^; rin the Lifelong Learning Plan (LLP).
) P" E/ e6 M' ~* P, Y/ p& CThe LLP allows you to withdraw amounts from your
/ H+ {. _% @- j8 Z* k/ ^: Rregistered retirement savings plans (RRSPs) to finance 5 \) n9 F# A* E3 e) n, M6 l1 j
training or education for you or your spouse or
" w5 F7 c+ A8 Qcommon-law partner. You do not have to include the 5 `2 K% c' z& ?5 z; F n- u9 n
withdrawn amounts in your income, and the RRSP issuer
1 Y9 H7 p0 _ ^( c. y4 Cwill not withhold tax on these amounts. 5 N* U: @% `: |
You have to repay these withdrawals to your RRSPs over a
- n/ h3 L @3 Y" J0 i) y' r. Eperiod of no more than 10 years. Any amount that you do / Z/ J$ [- `. U9 ] H* }5 [. |
not repay when it is due will be included in your income ( }' z; | @+ Q8 G8 e4 Q
for the year it was due. |
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