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Is this guide for you? ) T% a3 {7 r( O' e4 l, U) K
Use this guide if you want information about participating
% n. q, J& N, A0 F% ?8 Y, pin the Lifelong Learning Plan (LLP).
8 N: ~; Z+ N1 ~) h6 _The LLP allows you to withdraw amounts from your
9 g; e! ~, t- K: cregistered retirement savings plans (RRSPs) to finance
/ U+ E0 I8 g) i. }! ltraining or education for you or your spouse or
`6 o& h2 P6 m% a1 I2 r' Ecommon-law partner. You do not have to include the
: I4 }( a2 f+ lwithdrawn amounts in your income, and the RRSP issuer # I4 g6 F% }2 _; S5 j* k
will not withhold tax on these amounts.
4 {$ A/ e* C2 N. sYou have to repay these withdrawals to your RRSPs over a
" R& ^5 ~8 B9 \" A! V6 P" \# fperiod of no more than 10 years. Any amount that you do ' ]5 E1 E3 n. ?5 \
not repay when it is due will be included in your income % \* E2 a' W0 [6 g& D
for the year it was due. |
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