Is this guide for you? ; B& G8 J8 |5 b0 j5 j# v+ gUse this guide if you want information about participating ' z- |" H+ c! \/ o x$ gin the Lifelong Learning Plan (LLP). 7 q1 e/ I; t8 K* T: p
The LLP allows you to withdraw amounts from your " q# b/ k! S* ?6 M- b9 @
registered retirement savings plans (RRSPs) to finance 1 v) E1 P8 ^" S7 Y0 `training or education for you or your spouse or ! }. @' U- h! W) H1 X
common-law partner. You do not have to include the - F' A {; m p" w: m+ Q, a" n! wwithdrawn amounts in your income, and the RRSP issuer ! s h' [) K9 t( k: D0 t: Ywill not withhold tax on these amounts. . I% l v3 l) c% [( u
You have to repay these withdrawals to your RRSPs over a 9 L# S* Q$ w0 W( V$ jperiod of no more than 10 years. Any amount that you do 0 u/ e6 n/ F8 K- @. s+ ?5 K1 wnot repay when it is due will be included in your income ' J F4 w; s) Z9 W9 n/ X
for the year it was due.