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Is this guide for you?
7 x1 R2 M) O' D2 hUse this guide if you want information about participating ' ` Z# x& V3 z/ X$ R1 q
in the Lifelong Learning Plan (LLP).
/ s7 z. P7 b8 l; ~: KThe LLP allows you to withdraw amounts from your
6 R3 ~, T Z, U' t' q) y" H$ R! b3 Oregistered retirement savings plans (RRSPs) to finance $ {( m7 ?, ?: u6 E7 P
training or education for you or your spouse or
2 F, [- k/ C9 |" n) T" P: P2 N. wcommon-law partner. You do not have to include the
% F) F- }# Z4 A+ n7 e+ ~withdrawn amounts in your income, and the RRSP issuer ) `5 o, m9 B) G( M. R0 h
will not withhold tax on these amounts.
1 r6 W) p8 j4 X; K8 {7 n# wYou have to repay these withdrawals to your RRSPs over a ) i/ p$ s4 ?3 o- _. f& \) r
period of no more than 10 years. Any amount that you do
# ~+ l+ h& Y% v1 N# n9 A& Dnot repay when it is due will be included in your income
$ `8 J$ y- t* R% S5 @- P- Vfor the year it was due. |
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