Before you can designate an amount as a repayment to your Lifelong Learning Plan (LLP), you need to report your contributions to your RRSP in the RRSP Contributions & Deduction section.
Designate a repayment to your LLP in the RRSP Contributions & Deduction section.
- Enter your total LLP balance, you can find this on your LLP Statement of Account.
- Enter the required amount to be repaid in the year. This is also on your LLP Statement of Account.
- Designate the RRSP contribution that you entered as a repayment under your LLP.
- If you didn’t contribute enough to your RRSP in the year, we’ll automatically include that amount in your income.