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Is this guide for you? ' J" K6 h3 b, Z( F3 E( C% p
Use this guide if you want information about participating
/ y: F0 r4 d8 \, zin the Lifelong Learning Plan (LLP).
) G. X% c5 |7 LThe LLP allows you to withdraw amounts from your 0 K: H0 h8 Y$ D5 l- A6 A" \& o
registered retirement savings plans (RRSPs) to finance 0 ^ Y) d% q! ^% k0 r
training or education for you or your spouse or
$ {& H5 g6 S2 N" H3 n( ]* @common-law partner. You do not have to include the
* |0 s6 z$ O, e+ E4 [) ^, owithdrawn amounts in your income, and the RRSP issuer # d0 G7 _4 C( E- T
will not withhold tax on these amounts.
/ o2 G$ W- H% \: i' s) OYou have to repay these withdrawals to your RRSPs over a
& z! ]1 a4 Q6 [+ ?/ N" fperiod of no more than 10 years. Any amount that you do
0 ^! L D6 C) G2 R. E! C; bnot repay when it is due will be included in your income
8 @( Y- B4 p3 \" ffor the year it was due. |
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