Is this guide for you? : K% \3 H: e$ w+ L" q% n
Use this guide if you want information about participating " S8 ?7 d( B, J. K5 q; Zin the Lifelong Learning Plan (LLP). 0 O+ M' `2 C3 T |6 K- hThe LLP allows you to withdraw amounts from your 4 U! m j" p0 ^. _' a& f2 Xregistered retirement savings plans (RRSPs) to finance $ I3 u2 s2 s) V# Q$ p
training or education for you or your spouse or 1 V: @2 W* x* w5 N' x6 }. f8 ^
common-law partner. You do not have to include the ! r* G" Z$ a( m# V
withdrawn amounts in your income, and the RRSP issuer / q. ~& w+ `* p: M
will not withhold tax on these amounts. 4 k+ _8 V8 s& l! m {5 }
You have to repay these withdrawals to your RRSPs over a 1 d7 H' o1 a3 b1 W9 ^; w: |
period of no more than 10 years. Any amount that you do . V" }) ]$ m* y# S0 O4 E
not repay when it is due will be included in your income " Y% X# W; P0 m8 E8 S
for the year it was due.