Is this guide for you? $ s+ f" D7 `! a$ h* y. f$ m
Use this guide if you want information about participating 2 w- _1 \+ r. {# ~5 Fin the Lifelong Learning Plan (LLP). ; `. |/ {& y2 q1 e
The LLP allows you to withdraw amounts from your 1 [8 K! R4 E( o5 B; W
registered retirement savings plans (RRSPs) to finance 3 P3 h6 Y1 l; k+ F& X1 X9 A- j3 g4 gtraining or education for you or your spouse or * m! S9 S" C0 c8 i: Z3 a7 }3 r
common-law partner. You do not have to include the & h- K2 c. S& z$ Wwithdrawn amounts in your income, and the RRSP issuer : w1 i& E/ X2 B! B* a1 Bwill not withhold tax on these amounts. ! M$ `! h/ a) I j. O' O( S( yYou have to repay these withdrawals to your RRSPs over a * q( @. ]' o$ k% ?
period of no more than 10 years. Any amount that you do 8 R' W" U: `8 ]: I* R: ]not repay when it is due will be included in your income 2 u. E4 d4 Q% u8 S- ]
for the year it was due.