Is this guide for you? ' n1 V: j! U- VUse this guide if you want information about participating ( P& a" ~4 X: I6 iin the Lifelong Learning Plan (LLP). 1 q' T+ ? V: G3 O' ~The LLP allows you to withdraw amounts from your 0 c* Q6 i5 s4 ?3 X0 Hregistered retirement savings plans (RRSPs) to finance ) I( ~- j) k# b; n: Btraining or education for you or your spouse or 6 l2 ?1 w @' Z$ b4 k# M0 P
common-law partner. You do not have to include the # ]' y' |* `/ q# r- g- `withdrawn amounts in your income, and the RRSP issuer 8 |; u' C, Q% M' A* |3 }will not withhold tax on these amounts. 9 f* Z/ _0 d. v( i5 GYou have to repay these withdrawals to your RRSPs over a $ W3 X* I: C# r# M+ @
period of no more than 10 years. Any amount that you do 2 y2 E; G0 a' H/ ?: E
not repay when it is due will be included in your income * C h: s, j6 |: M, u" D
for the year it was due.