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Is this guide for you? 0 x$ g% S7 g- J1 e$ B0 Q% J4 a
Use this guide if you want information about participating 2 f$ O7 S9 n- a
in the Lifelong Learning Plan (LLP).
+ O9 q% w% G4 t& [# VThe LLP allows you to withdraw amounts from your ) k1 K% C% h, j& |3 ^& ]* {
registered retirement savings plans (RRSPs) to finance * R) \, a& e( z( b( ?, U
training or education for you or your spouse or 8 A2 ~' k& P ^: o& n" G8 v% e5 E! h
common-law partner. You do not have to include the - X2 p5 d8 N/ p4 Y& H+ a3 Q
withdrawn amounts in your income, and the RRSP issuer
" B) J+ c6 W! Jwill not withhold tax on these amounts.
' `+ Y# L9 e5 AYou have to repay these withdrawals to your RRSPs over a ( d6 U: O& S6 k7 {& [
period of no more than 10 years. Any amount that you do
0 p& U$ E, |, E+ A' |8 z" T3 R" Snot repay when it is due will be included in your income ) j7 h; Y0 Q* |! |+ v' q
for the year it was due. |
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