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Is this guide for you? 9 L# u$ q" a0 q
Use this guide if you want information about participating : v/ M9 o% J0 K5 B! J/ v& ?' y
in the Lifelong Learning Plan (LLP).
3 U% c ], y$ ?" {3 J7 o6 PThe LLP allows you to withdraw amounts from your
- A) I+ M4 N9 n r% C3 K2 mregistered retirement savings plans (RRSPs) to finance " o Q) g: G8 t9 z
training or education for you or your spouse or % W- \2 e2 ~% @+ ^6 X
common-law partner. You do not have to include the / N/ H, B; m& I' O" M
withdrawn amounts in your income, and the RRSP issuer " |8 P' m9 [: R
will not withhold tax on these amounts. , A) E* W/ u. t, G h6 D8 T
You have to repay these withdrawals to your RRSPs over a : J; v- H) q; \
period of no more than 10 years. Any amount that you do ; U1 v1 [3 V4 m8 n( J# Q
not repay when it is due will be included in your income
' l! h$ l2 F- o, j5 q( {- \for the year it was due. |
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