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   What is a Lifelong Learning Plan (LLP)?

   • The Lifelong Learning Plan (LLP) allows you to withdraw up to $10,000 in a calendar year from your RRSPs to finance full-time training or education for you or your spouse or common-law partner.

   Lifelong Learning Plan - Canada.ca

   www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/lifelong-learning-plan.html

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   What are the limits on a lifelong learning plan?

   • Limitations include a $10,000 annual withdrawal limit and a maximum repayment period of 10 years. The Lifelong Learning Plan is part of Canada's RRSP and nominally a retirement savings plan, to which policyholders, spouses, and CLPs can contribute deductible amounts that can be used to reduce their tax burden.

   Lifelong Learning Plan: What It is, Pros and Cons - Investopedia

   www.investopedia.com/terms/l/lifelonglearningplan.asp

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   Can the Lifelong Learning Plan help you start the next chapter?

   • Find out how the Lifelong Learning Plan (LLP) can help you start the next chapter in your life. 1. The ABCs of the LLP Perhaps you’ve already heard of the Home Buyers’ Plan—the government program that lets you make tax-free withdrawals from your RRSP to buy or build your first home.

   Lifelong Learning Plan: Your guide to going back to school

   www.desjardins.com/en/tips/lifelong-learning-plan-guide.html

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   How do I qualify for an LLP & go back to school?

   • To qualify for the LLP and go back to school with financial peace of mind, you must: 3. Your RRSP withdrawal is only tax-free if you pay it back. Since an RRSP is a tax-deferred investment, you must repay whatever you withdraw for your LLP and follow the conditions below, or you’ll end up having to pay those taxes after all. Remember!

   Lifelong Learning Plan: Your guide to going back to school

   www.desjardins.com/en/tips/lifelong-learning-plan-guide.html

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   Who is a LLP student?

   • LLP student – this is the individual whose education you are financing under the LLP. It can be you or your spouse or common-law partner, but not your child or the child of your spouse or common-law partner. You have to participate in the LLP for the same LLP student each year until the year after you have reduced your LLP balance to zero.

   Lifelong Learning Plan (LLP) - Canada.ca

   www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4112/lifelong-learning-plan.html

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   Can LLP students be enrolled on a part-time basis?

   • If the LLP student meets one of the disability conditions (see "Enrollment on a part-time basis"), they can be enrolled on a part-time basis. Fill out Form RC96, Lifelong Learning Plan (LLP) Request to Withdraw Funds from an RRSP and give it to your RRSP issuer. You can withdraw both the following: The LLP student has to:

   Lifelong Learning Plan (LLP) - Canada.ca

   www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4112/lifelong-learning-plan.html

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2. www.canada.ca › en › revenue-agencyLifelong Learning Plan - Canada.ca

   www.canada.ca › en › revenue-agency

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   The Lifelong Learning Plan (LLP) allows you to withdraw up to $10,000 in a calendar year from your RRSPs to finance full-time training or education for you or your spouse or common-law partner. You cannot participate in the LLP to finance your children's training or education, or the training or education of your spouse's or common-law partner ...

3. www.canada.ca › en › revenue-agencyParticipating in the Lifelong Learning Plan - Canada.ca

   www.canada.ca › en › revenue-agency

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   Eligibility requirements for the Lifelong Learning Plan (LLP) If you are an RRSP annuitant and a resident of Canada, you can usually participate in the LLP to withdraw funds from your RRSPs for your own or your spouse's or common-law partner's education.

4. Videos

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     Module 1 - Part 2 Why is Lifelong Learning Needed?

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5. www.canada.ca › rc4112 › lifelong-learning-planLifelong Learning Plan (LLP) - Canada.ca

   www.canada.ca › rc4112 › lifelong-learning-plan

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   Use this guide if you want information about participating in the Lifelong Learning Plan (LLP). The LLP allows you to withdraw amounts from your registered retirement savings plans (RRSPs) to finance training or education for you or your spouse or common-law partner.

6. woodgundyadvisors.cibc.com › delegate › servicesQualifying for the lifelong learning Plan - CIBC

   woodgundyadvisors.cibc.com › delegate › services

   In order to qualify for the LLP, you must be a resident of Canada and have already opened an RRSP. The LLP participant must be the annuitant of the RRSP from which the withdrawals are made. Withdrawals are not permitted from a Locked-in plan, Group Plans or a Registered Retirement Income Fund (RRIF).

7. www.investopedia.com › l › lifelonglearningplanLifelong Learning Plan: What It is, Pros and Cons - Investopedia

   www.investopedia.com › l › lifelonglearningplan

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   Apr 23, 2022 · The Lifelong Learning Plan (LLP) gives you an interest-free loan from your RRSP, or from your spouse’s RRSP, up to $10,000 a year (to a maximum of $20,000 in total, or $40,000 in total if...

   • Author: Julia Kagan

8. www.desjardins.com › savings-plans › llpLifelong Learning Plan (LLP) - Desjardins

   www.desjardins.com › savings-plans › llp

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   The Lifelong Learning Plan (LLP) lets you withdraw from your RRSP tax-free to go back to school. Learn about benefits, withdrawals and repayments for the LLP.

9. www.desjardins.com › en › tipsLifelong Learning Plan: Your guide to going back to school

   www.desjardins.com › en › tips

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   Aug 11, 2023 · Who’s eligible for the LLP? To qualify for the LLP and go back to school with financial peace of mind, you must: Have an RRSP. Be a Canadian resident. Be enrolled full-time in a qualifying educational program. Spend 10 hours or more per week on courses or work in a program that lasts at least 3 consecutive months.