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Is this guide for you? 1 i; q r& Q' ]* p) e3 g! J1 d
Use this guide if you want information about participating
f1 v4 _% f A$ C' z3 R* ^in the Lifelong Learning Plan (LLP).
0 k/ u2 ~0 i, H% SThe LLP allows you to withdraw amounts from your
a0 c: U$ g/ V/ d7 X6 @$ Z; Hregistered retirement savings plans (RRSPs) to finance
0 F, R9 ~1 r* x9 Z- C$ `1 atraining or education for you or your spouse or
: y* R, s4 f0 m- q3 K) D k' kcommon-law partner. You do not have to include the ' t$ Z" ^# d* O
withdrawn amounts in your income, and the RRSP issuer
+ j% { @5 T1 ?) ?8 {- e* Jwill not withhold tax on these amounts. - E" l( Y( A, [5 }# a9 C
You have to repay these withdrawals to your RRSPs over a
* B8 F. G: T# uperiod of no more than 10 years. Any amount that you do $ i6 y' `$ j3 x
not repay when it is due will be included in your income
2 U# d9 I0 i- F# T4 ^1 x4 Bfor the year it was due. |
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