Is this guide for you? 5 f) [& `% J6 T$ N \Use this guide if you want information about participating 0 {! S3 W# j. r- ?6 j/ {. Qin the Lifelong Learning Plan (LLP). 0 u3 X5 P/ ?: ` `4 P) h# k) R- m
The LLP allows you to withdraw amounts from your % L- ?8 S) W* c* j& Y' r
registered retirement savings plans (RRSPs) to finance " w2 ~! }; o m9 Z0 V
training or education for you or your spouse or + Y5 D9 U1 U: q7 u; A$ hcommon-law partner. You do not have to include the / x# Y, v& K5 v4 O Zwithdrawn amounts in your income, and the RRSP issuer ! a( Z2 k. }9 r% P$ }
will not withhold tax on these amounts. - e/ l1 l+ J5 U+ h& J% l$ kYou have to repay these withdrawals to your RRSPs over a / `, }2 p4 T+ m8 E) Eperiod of no more than 10 years. Any amount that you do 8 [ \& {9 E# J( y( K. G4 W0 Unot repay when it is due will be included in your income 3 o9 |5 E' x4 z0 H5 l# ufor the year it was due.