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Is this guide for you? * H: Y6 n; d) W" \/ E- K
Use this guide if you want information about participating . y3 h! r- k" D e* `: u
in the Lifelong Learning Plan (LLP). 6 s( Q: I* X8 U, [8 T, z
The LLP allows you to withdraw amounts from your
* i# k# @/ C7 }, M7 j7 t3 ~4 Wregistered retirement savings plans (RRSPs) to finance " M3 m% Z1 ]( l
training or education for you or your spouse or
l- T" g8 k% G4 D/ wcommon-law partner. You do not have to include the : z9 {1 @ @+ m! z
withdrawn amounts in your income, and the RRSP issuer & i* p' Y- v( @: h, Y& @3 v* } i
will not withhold tax on these amounts. " I1 R& J1 h* I* Y8 Y% {9 ]
You have to repay these withdrawals to your RRSPs over a
+ w& z. @! w4 B7 F- eperiod of no more than 10 years. Any amount that you do
- }) T0 b* P& B$ h; P" Enot repay when it is due will be included in your income
% E- z: K3 X+ e* h# Afor the year it was due. |
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