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Is this guide for you?
% a6 b/ F5 ~- T Y# l* \2 M4 [; H+ wUse this guide if you want information about participating
0 j/ ~! f# M' L' B% qin the Lifelong Learning Plan (LLP).
, L J9 _$ @2 C: LThe LLP allows you to withdraw amounts from your
% z }, i+ M7 o, Bregistered retirement savings plans (RRSPs) to finance
& d" _$ z/ k( A: A2 Vtraining or education for you or your spouse or
5 u8 D- y: L% T- W5 X E$ `% k$ {! ]common-law partner. You do not have to include the
) L* L( ^: H+ vwithdrawn amounts in your income, and the RRSP issuer
, {4 E* m4 A# vwill not withhold tax on these amounts. ; Y5 h5 E" M, C) }% o, g" \ o
You have to repay these withdrawals to your RRSPs over a
; |( f6 O7 b" B5 e! q$ c, o; c. D3 mperiod of no more than 10 years. Any amount that you do
; W/ ^! S+ P* `9 N5 e) f* Ynot repay when it is due will be included in your income
' O7 K3 T q% B* I8 o- c4 n/ O6 Kfor the year it was due. |
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