Is this guide for you? 7 t: n7 \8 r3 u: FUse this guide if you want information about participating # Y& ~6 O" _. e+ J
in the Lifelong Learning Plan (LLP). 9 E. G/ o: X6 G
The LLP allows you to withdraw amounts from your p& O8 _) T y2 hregistered retirement savings plans (RRSPs) to finance ) N; @3 M1 I5 N# [' v( |+ n" xtraining or education for you or your spouse or " A2 y6 Q2 Q; y* s0 w f* K& ucommon-law partner. You do not have to include the * C! X6 {3 O; owithdrawn amounts in your income, and the RRSP issuer 4 _8 `7 Z2 E! z( n1 _) W3 Kwill not withhold tax on these amounts. 5 l3 B2 c: L2 j& g' n- e
You have to repay these withdrawals to your RRSPs over a 8 j, Z7 r! u' l+ U
period of no more than 10 years. Any amount that you do + h1 B7 R& R) N4 @, f* S) Z
not repay when it is due will be included in your income " d, N8 z- N# s j! E0 yfor the year it was due.