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Is this guide for you?
. A; \* f. @9 Y3 T* F# |$ EUse this guide if you want information about participating
9 D: N6 |) y: @& @$ t& A0 w) Ein the Lifelong Learning Plan (LLP).
* `" T& H/ B) z aThe LLP allows you to withdraw amounts from your 1 W' i7 b+ [1 k. T
registered retirement savings plans (RRSPs) to finance . O6 L4 j* [% U* i* _
training or education for you or your spouse or / _4 J, o" f4 c7 Z8 l/ H, V: \
common-law partner. You do not have to include the
- h% e1 m# [9 f* Z7 H0 i* [# ^withdrawn amounts in your income, and the RRSP issuer 7 T0 s# @. y) N' h7 ~& X; X" d
will not withhold tax on these amounts. ; E5 T, m- b: X4 O4 }
You have to repay these withdrawals to your RRSPs over a
0 V! S4 u/ U8 p' Q* g1 cperiod of no more than 10 years. Any amount that you do * O& r& z) |0 s P+ R
not repay when it is due will be included in your income
, G2 R3 W p3 r9 I8 O; Jfor the year it was due. |
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