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Is this guide for you? * e4 ^" K. y7 e0 x- v U; c
Use this guide if you want information about participating 2 u/ h& Y' @0 n1 ~' M/ Y6 \0 X! _
in the Lifelong Learning Plan (LLP).
2 ?, m5 f7 G) C$ `9 t# AThe LLP allows you to withdraw amounts from your
1 Y) H! q: s. E s" Vregistered retirement savings plans (RRSPs) to finance ( b7 O6 J, B2 G, X {
training or education for you or your spouse or + L# C. \% P! _; F
common-law partner. You do not have to include the
. {& E- h7 \* F' W, z3 Uwithdrawn amounts in your income, and the RRSP issuer " F2 k0 j: f, Q# Y k5 D
will not withhold tax on these amounts.
! w/ @$ L- l1 I" \" jYou have to repay these withdrawals to your RRSPs over a $ F S& L' [2 I) e
period of no more than 10 years. Any amount that you do
7 L& H9 S; d. a6 d5 m8 Jnot repay when it is due will be included in your income
, B4 A1 ^. r1 [4 i! Q# i9 |% x; A# wfor the year it was due. |
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