Is this guide for you? 2 V+ N( K5 B6 v8 j' X. n+ U
Use this guide if you want information about participating ' z; ]: `) `: I" u( K% H/ @1 \# b7 ^
in the Lifelong Learning Plan (LLP). & _& h# ^# N, G' tThe LLP allows you to withdraw amounts from your ; ~4 o, d: s) C$ q" o) r x& x& Z- s# tregistered retirement savings plans (RRSPs) to finance 3 g# j# l- a9 b4 j# R: K6 j$ Wtraining or education for you or your spouse or . U9 d, \6 t' M3 Scommon-law partner. You do not have to include the " ]7 E; E0 l1 owithdrawn amounts in your income, and the RRSP issuer 2 v* D% Q8 w: p5 t( [
will not withhold tax on these amounts. ( o4 B3 V L6 A* t* i& g
You have to repay these withdrawals to your RRSPs over a 7 ?1 N% [# H; g- v7 l+ H
period of no more than 10 years. Any amount that you do 9 u8 K* e& e) z* C: Hnot repay when it is due will be included in your income 7 L. \5 z( X3 N
for the year it was due.