Is this guide for you? ( P5 Z' C$ G. ^5 a- b+ d
Use this guide if you want information about participating * s4 d' y6 f/ P& X- b1 e
in the Lifelong Learning Plan (LLP). 2 Q9 ]3 ]' T& ?$ [/ h
The LLP allows you to withdraw amounts from your % s4 n! n1 z" h6 gregistered retirement savings plans (RRSPs) to finance ) c7 c& v' A9 f0 m% T: Ftraining or education for you or your spouse or $ ? i9 i4 w N' g8 ?common-law partner. You do not have to include the ! H4 @! Y7 Y/ Q
withdrawn amounts in your income, and the RRSP issuer 8 l9 W( |1 {0 q" {1 L+ w! |
will not withhold tax on these amounts. # K0 w0 V$ C. _2 m# vYou have to repay these withdrawals to your RRSPs over a 2 ^3 f6 p. r' Eperiod of no more than 10 years. Any amount that you do ! }$ C- U3 T0 t6 ^not repay when it is due will be included in your income & X- o. A! a6 D- B; J5 E% ^' Efor the year it was due.