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Is this guide for you? . w5 t6 `% g! r
Use this guide if you want information about participating
# `7 f' d) j4 y# M! S7 Min the Lifelong Learning Plan (LLP).
4 Y* K, l3 J1 g# ZThe LLP allows you to withdraw amounts from your / l2 J& H: a1 l( V& T, d6 U; E* l# _
registered retirement savings plans (RRSPs) to finance
- ^( n/ F6 W% N( o! s, utraining or education for you or your spouse or
7 M" `5 g! q+ M! `) c$ W; J" rcommon-law partner. You do not have to include the ( f, h" w2 T; U' a& Y' w
withdrawn amounts in your income, and the RRSP issuer " M! k$ L4 x0 J& `( Q0 m
will not withhold tax on these amounts. 8 q; m3 m3 T" K8 I9 ]( v% c8 a
You have to repay these withdrawals to your RRSPs over a - t5 J9 ?5 ?" G, v9 }
period of no more than 10 years. Any amount that you do
" R5 f4 R1 j; l" j- ~not repay when it is due will be included in your income 9 P) X; K( I2 k8 |3 z( c$ M
for the year it was due. |
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