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Which of the Following Statements Is Correct About the Lifelong

Question 41

Multiple Choice

Which of the following statements is correct about the Lifelong Learning Plan?


A) The maximum tax-free withdrawal is $10,000 per year for up to four years.
B) A taxpayer cannot participate in a Home Buyers' Plan and a Lifelong Learning Plan in the same year.
C) Minimum repayments must be made over a period of ten years.
D) Tax-free withdrawals can be made by a part-time student as long as they are repaid within two years.

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