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Is this guide for you?
( {2 I) Q" ]# n, G) QUse this guide if you want information about participating $ d4 P2 O! c( o& d$ ^( K
in the Lifelong Learning Plan (LLP). 3 W* i% C3 \; p& @! p
The LLP allows you to withdraw amounts from your
) ~8 {; A" ?% [# [1 T. B& t: tregistered retirement savings plans (RRSPs) to finance
/ [: j; w. O2 A! ^- y, mtraining or education for you or your spouse or , K2 {& _ _; p0 P: a3 ^
common-law partner. You do not have to include the
+ N) L: ^, U$ }& R8 Owithdrawn amounts in your income, and the RRSP issuer
; z5 \8 g9 h# n- \+ fwill not withhold tax on these amounts.
9 ~- k: |4 z, f5 l0 dYou have to repay these withdrawals to your RRSPs over a ; H" [+ M. N' G& Y" R
period of no more than 10 years. Any amount that you do
3 U; e0 l6 \" s; ]8 q4 I- z2 G/ fnot repay when it is due will be included in your income 7 |/ |: h) X* J
for the year it was due. |
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