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Is this guide for you?
0 h8 ?+ }. ^! `$ t" IUse this guide if you want information about participating
, `% k: m6 a/ v {3 P( }in the Lifelong Learning Plan (LLP). - r# p; c4 Q, W$ @' f2 `* Q
The LLP allows you to withdraw amounts from your
0 D Z F4 W m) m' T, f- n2 H1 nregistered retirement savings plans (RRSPs) to finance
g" k. T0 m8 x& k# _" btraining or education for you or your spouse or 7 \9 I5 \, B( t$ s, ]; Q
common-law partner. You do not have to include the ' [( \2 c$ k+ }- u6 d
withdrawn amounts in your income, and the RRSP issuer % y }; D5 l; n9 \# T! c* E
will not withhold tax on these amounts. ; P4 }) X/ k- C$ P' C8 C
You have to repay these withdrawals to your RRSPs over a
& ]5 M- A, o7 r7 T2 a7 q6 C* `# _period of no more than 10 years. Any amount that you do , T6 V" j+ }9 N
not repay when it is due will be included in your income ; U# J2 }6 [. x7 x5 |4 i& w
for the year it was due. |
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