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Is this guide for you?
. D6 D1 c6 Z; JUse this guide if you want information about participating 3 y9 s! c: F9 u8 s
in the Lifelong Learning Plan (LLP).
8 d* l) }2 i# Y# iThe LLP allows you to withdraw amounts from your ' P6 e2 n8 ?, g1 C" Q- O
registered retirement savings plans (RRSPs) to finance
3 P; |7 M1 u' {0 w( r, Y9 gtraining or education for you or your spouse or
. O) | r6 a( m# @. Ucommon-law partner. You do not have to include the
) o( u/ D. t5 qwithdrawn amounts in your income, and the RRSP issuer 3 a9 `! i% ]! _0 P( P/ `1 E
will not withhold tax on these amounts.
4 Z, p c0 g1 s5 Q. [- @$ xYou have to repay these withdrawals to your RRSPs over a
0 a/ F+ H' E, u* l% Y" Pperiod of no more than 10 years. Any amount that you do
- F3 ?# k& g( |not repay when it is due will be included in your income
6 @- k! o) \# ]' T+ Efor the year it was due. |
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