Is this guide for you? ) M! y+ }7 ?1 d u2 n, HUse this guide if you want information about participating 6 V3 i) K6 Z7 m- A2 d
in the Lifelong Learning Plan (LLP). 0 ?5 e9 v/ j# M8 @The LLP allows you to withdraw amounts from your % ^8 @4 U5 R7 F/ c; b; [
registered retirement savings plans (RRSPs) to finance 4 |4 K9 g" t( Q# m! Gtraining or education for you or your spouse or % i7 s9 K% |) P8 j/ F4 fcommon-law partner. You do not have to include the 8 ]5 \6 `" `( V$ ?/ H" s6 A# cwithdrawn amounts in your income, and the RRSP issuer 3 }7 L! F8 n2 W; r& A# S9 ?) b1 @
will not withhold tax on these amounts. % ^) j& L8 i/ e) z' w( V0 r
You have to repay these withdrawals to your RRSPs over a % e* {; M% N% `6 K1 g! I8 Jperiod of no more than 10 years. Any amount that you do . I' t i, e3 f6 e6 @0 {not repay when it is due will be included in your income * ^% r$ \/ v& n& h; J
for the year it was due.