Is this guide for you? % ^' l: H: L# Z; ] v; p
Use this guide if you want information about participating / ~2 Q/ v; ~) Z3 J% L/ a
in the Lifelong Learning Plan (LLP). ( ^ q# W+ j& t+ E
The LLP allows you to withdraw amounts from your 3 f. K7 d: s. {$ P3 R% Yregistered retirement savings plans (RRSPs) to finance 7 ~. G0 I% ~# ]. ?: Ftraining or education for you or your spouse or . _3 `# |4 Q$ u% ]
common-law partner. You do not have to include the 2 |" K7 i+ ^1 T5 R8 P* L; H/ }
withdrawn amounts in your income, and the RRSP issuer & P$ U/ Q/ d! h) W: w& ?3 ^will not withhold tax on these amounts. : _1 Z/ @1 f1 oYou have to repay these withdrawals to your RRSPs over a ) J' L- n+ U. ^1 U
period of no more than 10 years. Any amount that you do - C' m4 V5 G) t: e
not repay when it is due will be included in your income 3 ?2 C7 z7 O0 q& y
for the year it was due.