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- h# T* L0 I, K: @ r: Y. f. b0 JUse this guide if you want information about participating
7 B) C% L# [9 O z7 i2 P5 _ w1 gin the Lifelong Learning Plan (LLP). $ p: t( T/ ^0 n7 {: }: q/ i/ C
The LLP allows you to withdraw amounts from your
* E) K/ T& H& i9 Uregistered retirement savings plans (RRSPs) to finance
5 ~( _: O; U0 W; | _8 \training or education for you or your spouse or
; f7 j$ r5 ~' l, k2 j/ Ucommon-law partner. You do not have to include the
5 T: F* _) ^& j( Y0 Ywithdrawn amounts in your income, and the RRSP issuer " C9 e. Y( |+ S) i
will not withhold tax on these amounts. " G" J4 _- ?# X4 U, E+ m
You have to repay these withdrawals to your RRSPs over a
6 @: M$ O! V0 C) Iperiod of no more than 10 years. Any amount that you do
. p7 N) Y0 w2 U3 @! Pnot repay when it is due will be included in your income , h. v* K; f! a
for the year it was due. |
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