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Is this guide for you?
" ]; g* W! E$ \5 `/ k: lUse this guide if you want information about participating ! O& S+ D8 `; Y$ w! G
in the Lifelong Learning Plan (LLP). 7 W- [; N+ G& L, x- ?; l8 P
The LLP allows you to withdraw amounts from your
2 V6 r7 k0 d/ A% x4 Z! l" |) |registered retirement savings plans (RRSPs) to finance 3 s7 p ]7 X3 _( @( l& n! G# r
training or education for you or your spouse or 8 \8 v" k- V4 f) b
common-law partner. You do not have to include the
& F" Q) F- b( g7 xwithdrawn amounts in your income, and the RRSP issuer
3 v8 A5 x, ?( s/ n$ S F+ bwill not withhold tax on these amounts.
7 P* B4 O5 A& v, a2 B/ g, b& GYou have to repay these withdrawals to your RRSPs over a . h' K- P& [$ A# Y. `# B$ {4 o6 x
period of no more than 10 years. Any amount that you do
% r/ _: S7 K. X0 W& Onot repay when it is due will be included in your income ; T* u8 q( p# \( ]& }6 ~" q1 e2 l' v+ J
for the year it was due. |
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