Is this guide for you? 5 }- ~$ E1 U7 n+ j1 R
Use this guide if you want information about participating a; y2 h- y2 b3 A
in the Lifelong Learning Plan (LLP). : @7 n8 u9 b; s4 _! C6 r
The LLP allows you to withdraw amounts from your ) v, @# l. N8 |( W1 x# S
registered retirement savings plans (RRSPs) to finance 8 {4 m2 w- [" ]/ P9 H& L- \) `/ m/ Qtraining or education for you or your spouse or ) D* h& C! v5 L
common-law partner. You do not have to include the ' s1 R6 K. D: E5 }- c$ k9 |
withdrawn amounts in your income, and the RRSP issuer c7 D0 J- T4 H/ ?( w, {
will not withhold tax on these amounts. 8 @- N9 r. u% m7 w2 \" ^You have to repay these withdrawals to your RRSPs over a ( H9 r$ P( ?4 e% _1 n. e; J
period of no more than 10 years. Any amount that you do & _- K2 C7 w/ |+ M
not repay when it is due will be included in your income 8 {& i2 A/ T! G0 B1 wfor the year it was due.