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Is this guide for you?
" U, c' t5 g+ a. S4 ZUse this guide if you want information about participating 1 ~8 G n$ u# Y( }: j8 l
in the Lifelong Learning Plan (LLP).
& f6 @" _" }* c. A9 Y9 fThe LLP allows you to withdraw amounts from your . m" V* T5 }2 s9 e) B) W& I' T% `
registered retirement savings plans (RRSPs) to finance - B' A9 F% @" o* z1 ^- f
training or education for you or your spouse or
9 L3 T; j0 A: l" Tcommon-law partner. You do not have to include the ( F) O, x4 x) t0 I5 D
withdrawn amounts in your income, and the RRSP issuer
, C+ { F' h& ]" Qwill not withhold tax on these amounts. + C4 t5 j' g0 v. L# u# G! i% i
You have to repay these withdrawals to your RRSPs over a ! h" w) f4 D V& B& z6 ]" u1 i
period of no more than 10 years. Any amount that you do % l' ]& s( B/ s H s
not repay when it is due will be included in your income
- n; P0 e, C1 c2 I1 ffor the year it was due. |
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