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Is this guide for you? , n/ O* y |0 `. k" C) R
Use this guide if you want information about participating 2 P) T: s0 D0 v' f3 T* @7 F, I
in the Lifelong Learning Plan (LLP). ' I; e1 n# t' X% O8 b
The LLP allows you to withdraw amounts from your 7 k( x- Q6 u5 Z: z# N/ R
registered retirement savings plans (RRSPs) to finance
( l, r) M# [7 Btraining or education for you or your spouse or 3 v4 r& v1 w/ b4 r3 A9 s
common-law partner. You do not have to include the $ q: K5 c& K; x6 @: C0 H. k
withdrawn amounts in your income, and the RRSP issuer
6 U& B; s* \2 ]will not withhold tax on these amounts.
% l5 |" J/ x8 r+ o# CYou have to repay these withdrawals to your RRSPs over a
9 c/ r" v0 ]$ X: Cperiod of no more than 10 years. Any amount that you do + v, W* d$ p) Q6 ]) A4 g
not repay when it is due will be included in your income
1 {6 t, N( j* Hfor the year it was due. |
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