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Is this guide for you? . h4 ]" z) O" U: d
Use this guide if you want information about participating - V' v# A$ G2 x- S) o6 k
in the Lifelong Learning Plan (LLP).
: [+ l3 v5 C3 {& q' `The LLP allows you to withdraw amounts from your
& v6 w( }; a) pregistered retirement savings plans (RRSPs) to finance
1 M r6 U1 I. r! G0 Y4 @ mtraining or education for you or your spouse or 6 U' h8 t9 t+ y$ \* o* ^. A7 ^
common-law partner. You do not have to include the 2 w8 c) U# H0 p! f) _! F5 L
withdrawn amounts in your income, and the RRSP issuer
" V; K2 x4 m; w2 r' r% I4 xwill not withhold tax on these amounts.
5 r2 J& i6 k) c' jYou have to repay these withdrawals to your RRSPs over a
9 A9 p, Y3 D4 U. i% Iperiod of no more than 10 years. Any amount that you do 9 [, o& P; W7 T4 ?
not repay when it is due will be included in your income
6 `! {( b, l, e# p! ffor the year it was due. |
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