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Is this guide for you?
! s. @! p0 S2 C' xUse this guide if you want information about participating
- x5 H1 J. Y* i; J9 z9 [in the Lifelong Learning Plan (LLP). 7 }; s0 X8 J- n: |& _
The LLP allows you to withdraw amounts from your ' I, X" H1 l6 r; C4 }7 S" L+ a
registered retirement savings plans (RRSPs) to finance ; x- z8 V5 c$ ]/ ^* z# X; P, B- r
training or education for you or your spouse or
, }1 x& {; X+ i4 a$ Y, Dcommon-law partner. You do not have to include the
- [' N8 V# d# {0 z' hwithdrawn amounts in your income, and the RRSP issuer 2 z. C( \2 S2 `
will not withhold tax on these amounts. ; F7 t; G0 f% y v4 G; T0 T4 X9 B
You have to repay these withdrawals to your RRSPs over a
8 [7 h9 l/ O& w1 b! Vperiod of no more than 10 years. Any amount that you do # R M& G! x# t8 \+ K9 A2 X
not repay when it is due will be included in your income ) q5 e% e! U4 |% X( r( g
for the year it was due. |
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