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Is this guide for you?
$ k3 P% p# b, c$ K# pUse this guide if you want information about participating
9 y/ R! ^% ?1 \' A+ t; J, min the Lifelong Learning Plan (LLP). , T$ u& R- ?$ C, `
The LLP allows you to withdraw amounts from your ) c0 k y# ^# q: S ?
registered retirement savings plans (RRSPs) to finance # d) Z! ?& M1 a1 W* H }
training or education for you or your spouse or & W9 o' F) t% D4 T; b
common-law partner. You do not have to include the
2 g: q5 e% c1 p" D3 Z, g" pwithdrawn amounts in your income, and the RRSP issuer
7 i" q* H* C# k& rwill not withhold tax on these amounts. ; |6 {- J0 w2 l- t0 K
You have to repay these withdrawals to your RRSPs over a
# n9 x7 ]6 q6 L, c) d$ Z( A; A& eperiod of no more than 10 years. Any amount that you do
. w* Z8 D: r' C2 q5 mnot repay when it is due will be included in your income * d) _& h8 x" N! j
for the year it was due. |
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