Is this guide for you? 5 g. I" l- y7 N) I4 T
Use this guide if you want information about participating ' G* }# r+ R2 a% g( S
in the Lifelong Learning Plan (LLP). ) y( C3 J+ t2 f3 K9 v+ xThe LLP allows you to withdraw amounts from your ( `+ H0 s) B( ~
registered retirement savings plans (RRSPs) to finance 7 v* E% D3 F4 {# _9 {. }training or education for you or your spouse or 7 Q6 E( a/ P9 {
common-law partner. You do not have to include the , y: o3 m. r# {
withdrawn amounts in your income, and the RRSP issuer 2 N" ~6 |, m; \
will not withhold tax on these amounts. ; s4 v: i: z( S* A$ WYou have to repay these withdrawals to your RRSPs over a 7 o) y! j. n( |# k" v% ^( _# X
period of no more than 10 years. Any amount that you do ! [: J2 u; M8 `) e% c
not repay when it is due will be included in your income / O8 C8 s( J- s! i! L# ]
for the year it was due.