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Lifelong Learning Plan For Instrument Rating?


Jet B
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Does anyone know if an instrument rating from a helicopter flight school would qualify to use the Canada Lifelong Learning Plan so I could use my RRSP money to fund the training?

 

For anyone that has never heard of it, it is similar to the home buyers plan where you can borrow from your RSP without paying tax and pay it back to yourself over 10 years.

 

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/llp-reep/menu-eng.html

 

If nobody has done this or knows if it's applicable, I will look at calling Revenue Canada to find out.

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  • 5 months later...

Does anyone know if an instrument rating from a helicopter flight school would qualify to use the Canada Lifelong Learning Plan so I could use my RRSP money to fund the training?

 

For anyone that has never heard of it, it is similar to the home buyers plan where you can borrow from your RSP without paying tax and pay it back to yourself over 10 years.

 

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/llp-reep/menu-eng.html

 

If nobody has done this or knows if it's applicable, I will look at calling Revenue Canada to find out.

 

 

Are you done with it ? yes you can use your LLP towards your IFR rating. I did it, and it worked just fine.

 

cheers.

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