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Is this guide for you? 2 V* z& K6 b0 H) ~. Z3 k, X
Use this guide if you want information about participating 3 K# _ v4 g& Q9 [9 v
in the Lifelong Learning Plan (LLP).
* G1 L3 v J4 j1 TThe LLP allows you to withdraw amounts from your ' z) k2 U2 d, e" X. B2 t0 i: S$ c' E
registered retirement savings plans (RRSPs) to finance
* r4 A: i" g- F5 vtraining or education for you or your spouse or
% u! ^- w; C! @2 Bcommon-law partner. You do not have to include the " Y4 A! `* t; D2 X Z
withdrawn amounts in your income, and the RRSP issuer - O. }7 V: [+ F, u; V
will not withhold tax on these amounts. , L2 ]1 p7 T0 Y# ]
You have to repay these withdrawals to your RRSPs over a
! h: _1 g1 _, Q$ ]( o( k. W) Nperiod of no more than 10 years. Any amount that you do ! q G; X/ {& J0 R% H/ h- g" j
not repay when it is due will be included in your income " E" F+ r9 W4 I" `! W" w! `, ~( r
for the year it was due. |
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