Is this guide for you? ) m8 X+ C, M z9 O9 I1 e/ h
Use this guide if you want information about participating + l% L( t4 n5 i D
in the Lifelong Learning Plan (LLP). 6 K' c- l8 ^; o* o* F* Y4 l# A
The LLP allows you to withdraw amounts from your $ X+ f' f* g: F0 f* f8 y
registered retirement savings plans (RRSPs) to finance * @* m& Q6 B' n
training or education for you or your spouse or 3 A; V; H% W. A5 g8 `
common-law partner. You do not have to include the b# }3 o4 Z6 _5 R1 z5 f6 d
withdrawn amounts in your income, and the RRSP issuer + l5 G- P. Q9 e, u0 b
will not withhold tax on these amounts. . V/ D/ F i3 |
You have to repay these withdrawals to your RRSPs over a $ s' p/ t+ R9 @4 E$ S
period of no more than 10 years. Any amount that you do ( K% }: I1 p. |6 f: K- c$ t9 W
not repay when it is due will be included in your income . V) g+ {$ f% z H. K9 m
for the year it was due.