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Is this guide for you?
- Q# f# ?/ _, I/ \Use this guide if you want information about participating 4 `7 \; r/ D* }1 f/ q# ]# ?" \$ c$ ~
in the Lifelong Learning Plan (LLP).
$ {1 Q$ ~+ J# u% V' i O, V% cThe LLP allows you to withdraw amounts from your
0 P7 ~4 Z" A2 |( I( ^9 |registered retirement savings plans (RRSPs) to finance
# }; s; x8 w( }+ y+ ?. ptraining or education for you or your spouse or 1 h* V3 j) I) q6 n
common-law partner. You do not have to include the
" x3 j, o. w L' ^! Y. Qwithdrawn amounts in your income, and the RRSP issuer 3 ~% R1 i; V$ y, m9 d
will not withhold tax on these amounts. ) O8 _7 f7 `$ o5 M! Q% t( y
You have to repay these withdrawals to your RRSPs over a
8 J& a' e4 G3 l$ K. G; s7 Qperiod of no more than 10 years. Any amount that you do 3 h( D3 F, H9 b9 \; d
not repay when it is due will be included in your income
; f" k$ f. i/ K$ c! Sfor the year it was due. |
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