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Is this guide for you?
# o/ ~, n d2 z2 @" c6 X3 b& kUse this guide if you want information about participating 4 f% ]7 b! b. D0 B. v' V
in the Lifelong Learning Plan (LLP).
) H1 ^3 |. c0 T' n; EThe LLP allows you to withdraw amounts from your
! L4 u b9 w, @ Mregistered retirement savings plans (RRSPs) to finance
9 S2 R H/ Z8 X' }% \training or education for you or your spouse or % t2 ^) y) ]# u. J9 h1 w
common-law partner. You do not have to include the
2 I+ M4 F& Z& a4 d' Lwithdrawn amounts in your income, and the RRSP issuer ! I; F0 l1 j# r+ F
will not withhold tax on these amounts. 6 K) P" X) {, K' }( X# ]
You have to repay these withdrawals to your RRSPs over a & L5 L. O) Q( R6 X
period of no more than 10 years. Any amount that you do 4 w2 R- N+ T& n, e# n
not repay when it is due will be included in your income ' `2 G# |6 F8 A' T. v# [. E% }
for the year it was due. |
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