Is this guide for you? # K, o7 `2 e0 _9 M
Use this guide if you want information about participating & e( y; F. l% N9 W& u4 r- vin the Lifelong Learning Plan (LLP). & n; _& w5 a+ H* I5 f2 J/ J) B0 X
The LLP allows you to withdraw amounts from your 0 w% R9 q4 V" n0 w4 t' ~8 uregistered retirement savings plans (RRSPs) to finance 1 K4 C0 ^0 W8 X& X
training or education for you or your spouse or 8 U5 i, d3 O" T2 m# L% Pcommon-law partner. You do not have to include the # k M% A8 C5 m4 |. Rwithdrawn amounts in your income, and the RRSP issuer $ J8 }2 \: q0 j5 [1 _9 Nwill not withhold tax on these amounts. ! E; f# [* x/ B0 ?; a' e
You have to repay these withdrawals to your RRSPs over a 9 V# S e1 ~6 t& k
period of no more than 10 years. Any amount that you do 1 {# V3 Y c2 f5 k. \; bnot repay when it is due will be included in your income / t3 \' C2 o- | e( Y3 C* ufor the year it was due.