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Is this guide for you?
3 }5 D# G' L' J9 SUse this guide if you want information about participating % D( M3 r( N$ b! D
in the Lifelong Learning Plan (LLP).
* a3 M" S' N# @5 |. R+ }The LLP allows you to withdraw amounts from your
6 j) }6 q. Y) {" A* _registered retirement savings plans (RRSPs) to finance
% V. Z) T' u$ t% |! Etraining or education for you or your spouse or - |5 M6 y8 m3 V0 N
common-law partner. You do not have to include the 5 N6 C6 T1 M7 ^4 O3 f' E
withdrawn amounts in your income, and the RRSP issuer
. o3 P4 {& G, V+ e- Awill not withhold tax on these amounts. w: q6 N& r! t# r, l, ?; f5 J2 {
You have to repay these withdrawals to your RRSPs over a 3 P& u' _ A/ W" h* a+ `8 C5 \7 D
period of no more than 10 years. Any amount that you do
" T, U9 R" s/ |4 F2 y( Snot repay when it is due will be included in your income 0 X, K6 w4 O, n* j0 f0 I+ V
for the year it was due. |
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