Is this guide for you? 0 L! ~+ B5 o7 O1 V' k; Q
Use this guide if you want information about participating 7 }! Y. l9 q8 j/ I& x% tin the Lifelong Learning Plan (LLP). 0 D/ R1 f. t' a$ O G% F( J8 C$ BThe LLP allows you to withdraw amounts from your . J4 Z7 m3 J! I& x8 X' [8 z" X
registered retirement savings plans (RRSPs) to finance , l0 g- w( d( G$ s. E1 dtraining or education for you or your spouse or & |! V4 i9 z; L) U/ I, u _4 Ucommon-law partner. You do not have to include the 7 g! D2 @; _ z9 Y( G) S) _& x9 b
withdrawn amounts in your income, and the RRSP issuer & M: U- A) o0 x/ u" T
will not withhold tax on these amounts. ( q4 U; j2 s4 E0 e8 G7 h
You have to repay these withdrawals to your RRSPs over a 1 b4 `& ^4 w8 @/ y4 i) G/ O2 X
period of no more than 10 years. Any amount that you do & [) Q8 E5 V# L1 d' H% ?
not repay when it is due will be included in your income 0 s" X: e0 H! w# S8 o% B
for the year it was due.