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Is this guide for you? , I8 ?8 s* i( w$ P3 ?
Use this guide if you want information about participating
) r* T9 O* G5 H+ ]0 F7 ?in the Lifelong Learning Plan (LLP). 4 | s7 [5 J7 A
The LLP allows you to withdraw amounts from your ; o) d. ^& f" \( b; k
registered retirement savings plans (RRSPs) to finance
8 \9 K8 _$ Z- ?, ftraining or education for you or your spouse or 9 l5 j8 I0 z1 [# u8 ^- b! B: h$ l4 v6 Y
common-law partner. You do not have to include the 6 {6 Y) ^1 J! u2 E% R
withdrawn amounts in your income, and the RRSP issuer
5 V, L$ i6 t" ^will not withhold tax on these amounts. - E* F/ a% t: j! ]4 H9 j
You have to repay these withdrawals to your RRSPs over a
% _, h2 n0 M% C$ R: K* |1 ]3 H; Rperiod of no more than 10 years. Any amount that you do
' r! c+ y5 |* s+ ?not repay when it is due will be included in your income
, b+ Y/ T. X7 H) H2 z; Rfor the year it was due. |
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