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Is this guide for you?
1 Q2 S8 `; j3 e7 `Use this guide if you want information about participating
: Z" g0 t, `1 P7 Q( j9 ~in the Lifelong Learning Plan (LLP). 5 C+ H2 B; B& d% r8 W- A3 N
The LLP allows you to withdraw amounts from your ( F! Y' I9 c- J, O" N
registered retirement savings plans (RRSPs) to finance & `3 A( ]$ m* Z; [! E
training or education for you or your spouse or
7 ?: ?- T& U$ p4 l4 w0 r( Kcommon-law partner. You do not have to include the , ] x! d3 Z) m; L
withdrawn amounts in your income, and the RRSP issuer
+ A- \/ t$ a) l$ nwill not withhold tax on these amounts. # w7 Y, |4 y1 Y; V9 H; B: G
You have to repay these withdrawals to your RRSPs over a , q. E( S Y& c" ^5 A
period of no more than 10 years. Any amount that you do
) H8 E( R! l" Rnot repay when it is due will be included in your income ( m2 [; e& m7 n
for the year it was due. |
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