Is this guide for you? 2 U! y4 P: A1 x, O: d `Use this guide if you want information about participating 1 k( [/ ^8 z, ~5 F3 S/ l. v' din the Lifelong Learning Plan (LLP). 7 r" v* q5 T7 g* a0 wThe LLP allows you to withdraw amounts from your ( u( M$ E) |4 j; |! [2 v5 n% ?
registered retirement savings plans (RRSPs) to finance & j. z+ J2 Y) h, D8 \training or education for you or your spouse or 4 }' m3 |' z9 G
common-law partner. You do not have to include the : W; Z+ q1 C' T0 iwithdrawn amounts in your income, and the RRSP issuer 9 u# y' s# j. V l2 k: h4 B4 D7 R
will not withhold tax on these amounts. - m! L( {7 L; b& c9 k8 {You have to repay these withdrawals to your RRSPs over a ) U* j( D8 I1 d
period of no more than 10 years. Any amount that you do 8 Q; |3 }( q# C" h3 K' `. N
not repay when it is due will be included in your income ( O4 N7 Q' c2 l. N8 C0 |6 X% xfor the year it was due.