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Is this guide for you?
2 W- ]/ r- ]# x- r( ZUse this guide if you want information about participating
) V/ ]9 n( s, i8 v: A rin the Lifelong Learning Plan (LLP). 2 t9 O3 I! Q! U6 Z9 ?
The LLP allows you to withdraw amounts from your
, g9 | g7 }, E, @& e- [) Iregistered retirement savings plans (RRSPs) to finance 0 B0 ?# I( [% |* g1 m8 {- `3 s
training or education for you or your spouse or 5 _/ x/ z$ R0 V; ~8 a3 V
common-law partner. You do not have to include the ) m/ ?) @. m5 G$ C% S( Q4 K
withdrawn amounts in your income, and the RRSP issuer
7 a/ n$ `) X! O* Twill not withhold tax on these amounts. : o7 i5 ?9 E+ r7 s1 k9 A& i, b+ A
You have to repay these withdrawals to your RRSPs over a / R5 _% U( E6 ~2 H2 b( P9 w2 R% I
period of no more than 10 years. Any amount that you do
7 Z, d) w$ L6 Q0 M H; f) mnot repay when it is due will be included in your income / S0 ^9 D" x9 j3 G
for the year it was due. |
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