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Is this guide for you?
( ~$ I ^* C0 |6 jUse this guide if you want information about participating ; z2 V% ]2 O, _ T
in the Lifelong Learning Plan (LLP).
- n0 e5 M4 n9 X, ?) qThe LLP allows you to withdraw amounts from your & b" k# j1 g2 `1 f* h$ O
registered retirement savings plans (RRSPs) to finance
0 f4 l% y0 o) p0 P4 t3 Htraining or education for you or your spouse or
9 ~! O" r; D5 D% L/ L2 g$ m9 lcommon-law partner. You do not have to include the
; d; c3 v: W4 W3 {7 b5 x9 ?3 ?( g/ cwithdrawn amounts in your income, and the RRSP issuer # D, O7 X2 V3 F6 ^8 S
will not withhold tax on these amounts.
0 J- X5 I9 C. q& T/ f+ p1 B6 Q: mYou have to repay these withdrawals to your RRSPs over a 4 I- @1 {' {! _1 O) C8 n$ I7 y
period of no more than 10 years. Any amount that you do
: y) B; {9 O6 q7 B+ i3 P+ Qnot repay when it is due will be included in your income
5 v1 F# L) z2 V, r4 g5 g! [* }for the year it was due. |
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