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Is this guide for you?
9 n5 t. n+ I, A& \Use this guide if you want information about participating
' U1 I* h5 j. m8 V; I8 |in the Lifelong Learning Plan (LLP).
, [2 F# h6 I- r; s+ uThe LLP allows you to withdraw amounts from your
/ w$ t1 \7 Y( L h8 t; `1 Yregistered retirement savings plans (RRSPs) to finance
+ k% ~- c6 w* F: ttraining or education for you or your spouse or 5 k" ]/ d3 R, n6 I7 U
common-law partner. You do not have to include the
& h+ x' }5 W# z3 W9 H. [8 F+ ]withdrawn amounts in your income, and the RRSP issuer * K* d% [5 e3 J" c
will not withhold tax on these amounts.
+ S5 ?, v3 Q; C( K9 ]/ o5 g- }- KYou have to repay these withdrawals to your RRSPs over a & q/ k" ?2 j h1 Z N- t6 ^( p1 H
period of no more than 10 years. Any amount that you do 7 q! @. W/ a1 e( f4 c2 F
not repay when it is due will be included in your income 9 f5 E6 r/ R$ Z1 e% S E8 U
for the year it was due. |
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