Is this guide for you? 9 [; L/ Y4 C# l- B: M- H; @; m' ^! HUse this guide if you want information about participating # c. C k. P3 K& U2 U- r
in the Lifelong Learning Plan (LLP). 0 a; U2 y& l. O) E j
The LLP allows you to withdraw amounts from your 7 u: W3 F; |$ e: Iregistered retirement savings plans (RRSPs) to finance * C8 ]3 q# ?( ]$ T( {5 W
training or education for you or your spouse or & b$ o/ W& e$ S, a* I/ P# ncommon-law partner. You do not have to include the w) `) ]+ c+ W; pwithdrawn amounts in your income, and the RRSP issuer ( c1 T! _6 h- q) ~
will not withhold tax on these amounts. 2 t2 b4 r/ ?+ c- }You have to repay these withdrawals to your RRSPs over a 8 V5 @) ^6 @) ^0 e" `+ _period of no more than 10 years. Any amount that you do ! _* L: J3 B5 f6 G) x' [& c
not repay when it is due will be included in your income \! E- Y+ C6 C9 C) A
for the year it was due.