Is this guide for you? 5 B- X3 S( F% qUse this guide if you want information about participating : `- H" C( V" I* ^' @
in the Lifelong Learning Plan (LLP). : D; g1 s0 D) b' D5 Q
The LLP allows you to withdraw amounts from your / O0 B. K. c/ B/ Y# \8 I# m( b- \
registered retirement savings plans (RRSPs) to finance ) v' ]( I: ]8 K+ R( @( F
training or education for you or your spouse or 5 h) \& O' h; m: W0 Y0 v5 }
common-law partner. You do not have to include the D1 i) g" _5 j0 {2 ] o; Wwithdrawn amounts in your income, and the RRSP issuer * N- ~) x: G3 R$ Q! _
will not withhold tax on these amounts. ! |* c3 r# `2 v0 w+ k! _! U
You have to repay these withdrawals to your RRSPs over a ; S% _* b3 N" q7 _5 x
period of no more than 10 years. Any amount that you do # U3 t' ]0 T$ e2 l) xnot repay when it is due will be included in your income 2 H9 z- g: `1 U z0 k) Kfor the year it was due.