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Is this guide for you?
* q8 p* r- \" I/ s0 ?, C }Use this guide if you want information about participating ! N/ N3 U S, @% q1 m+ C, e3 e. B$ k
in the Lifelong Learning Plan (LLP).
# G% o# a8 R. l/ EThe LLP allows you to withdraw amounts from your ! X, A, x" ]" B. W5 v, ^
registered retirement savings plans (RRSPs) to finance
& q! v ?. g# D) Z8 N# n6 w+ Mtraining or education for you or your spouse or
/ ]" O3 g5 v& Acommon-law partner. You do not have to include the
" R; Y* n4 d0 L# w! D: ^withdrawn amounts in your income, and the RRSP issuer ; n" A$ n) w/ u" u9 {
will not withhold tax on these amounts. 5 d/ u& E" j, |
You have to repay these withdrawals to your RRSPs over a 9 r# h c# k; ]7 @) h
period of no more than 10 years. Any amount that you do
1 i! B2 {; h6 e" onot repay when it is due will be included in your income " Q. z! \) E$ \) x4 h
for the year it was due. |
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