Is this guide for you? : Z2 P1 ^' S: R, M/ ?% T OUse this guide if you want information about participating & r6 c" X( u+ _/ |$ ~0 j4 B& Q$ bin the Lifelong Learning Plan (LLP). F( A3 ]9 X7 R- W: Q" [9 CThe LLP allows you to withdraw amounts from your ; W' ^! h( P; Q% i- H9 T
registered retirement savings plans (RRSPs) to finance ( n! @# Y5 Z, U' ]3 c: r
training or education for you or your spouse or ) k {- W; \: r5 a( t
common-law partner. You do not have to include the $ F! E7 n" t1 H( ~withdrawn amounts in your income, and the RRSP issuer * n% ?2 m% Y/ h. Z
will not withhold tax on these amounts. % P+ ^6 x% h; K/ U4 rYou have to repay these withdrawals to your RRSPs over a * S" Z: p2 N7 Z( D6 Uperiod of no more than 10 years. Any amount that you do 8 P" ]+ _/ ^/ v) K$ i
not repay when it is due will be included in your income ) T% E' x7 `; J. L Y9 |for the year it was due.