Is this guide for you? * v7 b" T% j' o3 ?' D( @# Y' q. WUse this guide if you want information about participating 9 J5 u8 R7 I5 \/ L* A$ {in the Lifelong Learning Plan (LLP). % L! u: n7 u0 F- \ T
The LLP allows you to withdraw amounts from your # J8 f$ L# P6 w4 o! Z: B0 l1 }& b/ T
registered retirement savings plans (RRSPs) to finance ' |9 U& S0 {- R( }2 @training or education for you or your spouse or z- d+ H0 F7 F3 U: q9 ]# A0 _( `' |! ]
common-law partner. You do not have to include the 0 Q2 ]) C7 m( D0 a
withdrawn amounts in your income, and the RRSP issuer . p8 c4 {# r( ?3 ]* ~will not withhold tax on these amounts. 4 G! w4 P) t$ p+ N4 z
You have to repay these withdrawals to your RRSPs over a ( q9 R4 L# ^# E3 w$ speriod of no more than 10 years. Any amount that you do / [! C" I" w7 ?2 W4 p( t B8 r: onot repay when it is due will be included in your income ( O& l9 Y6 P- @7 u
for the year it was due.