Is this guide for you? 0 }) M% }! p6 c8 X+ M" X oUse this guide if you want information about participating 6 M/ A* o- h8 D. L- i3 f: z p. v
in the Lifelong Learning Plan (LLP). ( J* `8 b* g9 s- S! cThe LLP allows you to withdraw amounts from your & _; Z, B9 [7 {4 C
registered retirement savings plans (RRSPs) to finance . }* `3 d/ P( L9 Z. J1 K
training or education for you or your spouse or $ w$ s" f2 F( p
common-law partner. You do not have to include the 4 @9 ?8 M B) ^. d! nwithdrawn amounts in your income, and the RRSP issuer ! P" s8 v! [0 c$ `3 U% |will not withhold tax on these amounts. : E( w y0 @( e* _
You have to repay these withdrawals to your RRSPs over a 4 W# |7 [* j- M& K5 ^: P
period of no more than 10 years. Any amount that you do / h( f& Z `6 R+ q0 Q8 f9 Y
not repay when it is due will be included in your income ; d7 e9 H. ?7 s1 I0 F# h
for the year it was due.