Is this guide for you? . ^' k: P% U9 ]. z
Use this guide if you want information about participating 1 }) R1 F: C/ f* s/ n6 Y
in the Lifelong Learning Plan (LLP). : d: \& p# P; N- ~# h* W8 o
The LLP allows you to withdraw amounts from your , S% {. ^$ |- v+ Y h
registered retirement savings plans (RRSPs) to finance ; v: s4 J2 A" D. s ~
training or education for you or your spouse or , i5 s7 b% |; L7 y0 v5 ?
common-law partner. You do not have to include the & f( P" Y. [/ U2 ]withdrawn amounts in your income, and the RRSP issuer & B: X" g1 [) pwill not withhold tax on these amounts. 9 p; o! ^" c! ^5 k' |! E2 j$ FYou have to repay these withdrawals to your RRSPs over a % E7 ]4 S& L/ A8 ~period of no more than 10 years. Any amount that you do . g2 g( m; X) ~# H4 x0 I8 ~$ r
not repay when it is due will be included in your income ! f0 p* {7 I1 ?, Z o
for the year it was due.