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Is this guide for you?
0 v8 Y% m6 ^" WUse this guide if you want information about participating
W0 i4 X3 Y* I0 Q$ \in the Lifelong Learning Plan (LLP). E3 C, T3 k! [0 d
The LLP allows you to withdraw amounts from your
. s9 s5 K0 U& j3 ~( i3 vregistered retirement savings plans (RRSPs) to finance 8 p; p1 L9 D: H+ }; r
training or education for you or your spouse or
8 A) k8 ~) T3 o" c0 e4 Vcommon-law partner. You do not have to include the
7 N8 D/ W1 I- w& Y+ Q, zwithdrawn amounts in your income, and the RRSP issuer * P& Q/ _* K3 }: @7 w& y
will not withhold tax on these amounts.
$ Y7 L, s J$ E! nYou have to repay these withdrawals to your RRSPs over a 6 C& u5 |7 ]) c' p
period of no more than 10 years. Any amount that you do
, Y* o- e1 z8 O6 C; s# l, Pnot repay when it is due will be included in your income 2 E- j% n* m! X4 D M1 E' z
for the year it was due. |
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