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Is this guide for you? , q8 B4 b* x0 \* C; _
Use this guide if you want information about participating
! }0 ]2 W+ b: f4 A% l/ Sin the Lifelong Learning Plan (LLP). A6 R Y. Z" k' e0 I1 ~
The LLP allows you to withdraw amounts from your
0 r) U, v. [9 h& I7 ]& j( J5 p' vregistered retirement savings plans (RRSPs) to finance 7 j. N# o- k+ m" F$ X+ q# J0 ^' R
training or education for you or your spouse or
' \' e4 S+ `. O8 @! \common-law partner. You do not have to include the
; d! P5 p2 g7 Vwithdrawn amounts in your income, and the RRSP issuer : P- ], L, J' C! b
will not withhold tax on these amounts. * M J8 f/ [. j
You have to repay these withdrawals to your RRSPs over a
2 ~. S4 g7 Z# Mperiod of no more than 10 years. Any amount that you do 7 T3 B5 R0 k1 t: o) {
not repay when it is due will be included in your income 2 d0 b5 c" |7 j, h* O2 k1 c8 F& U& L
for the year it was due. |
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