Is this guide for you? 6 q9 B( ]% U1 u
Use this guide if you want information about participating + o9 f9 p" h" G& A4 c( y8 f
in the Lifelong Learning Plan (LLP). 8 E7 L4 q* v, yThe LLP allows you to withdraw amounts from your 9 U/ u! e# u1 A. s) {- ?2 ]registered retirement savings plans (RRSPs) to finance + e) r! S& B# L9 }
training or education for you or your spouse or 9 i: t" }7 |- g+ `5 e$ P( ]
common-law partner. You do not have to include the : w% U( n% {3 f* d+ |withdrawn amounts in your income, and the RRSP issuer 2 P; t7 Y* E0 w8 {5 `
will not withhold tax on these amounts. * r2 T9 e3 e$ p2 z6 c
You have to repay these withdrawals to your RRSPs over a 2 `7 k. U% Y$ Z! l' y* @period of no more than 10 years. Any amount that you do . b. S2 z) {; d5 V
not repay when it is due will be included in your income ! p3 Q, G! m* ^7 ~9 ~- |for the year it was due.