Is this guide for you? / b" G2 D N+ z3 qUse this guide if you want information about participating * y/ k6 |% ^! k7 M. x( @5 V+ Y
in the Lifelong Learning Plan (LLP). + V) L2 y& U& ~+ v7 l
The LLP allows you to withdraw amounts from your 0 U; V! j7 o. w9 @9 tregistered retirement savings plans (RRSPs) to finance . v/ ]$ G" T& y1 k4 ?. `) vtraining or education for you or your spouse or 2 }+ l" |7 ` N9 [+ ^
common-law partner. You do not have to include the ) M5 q, H! x$ Y( h" f8 z( U. @6 swithdrawn amounts in your income, and the RRSP issuer ) k/ ^! j# {- n5 r) p, \will not withhold tax on these amounts. ( Q3 T% O5 F$ |% O5 b v* bYou have to repay these withdrawals to your RRSPs over a $ v% S+ P1 o( h- ]# i" r
period of no more than 10 years. Any amount that you do - r1 e: r1 v# anot repay when it is due will be included in your income ; i& q/ D% i( B) X/ d" c$ F
for the year it was due.