Is this guide for you? 4 J9 Q( b# I+ {Use this guide if you want information about participating q" r8 C" z( u1 H5 E
in the Lifelong Learning Plan (LLP). : \3 w6 W5 C5 }
The LLP allows you to withdraw amounts from your & u5 B" k! t0 [- Eregistered retirement savings plans (RRSPs) to finance ) A1 R2 a; L" a7 m0 Gtraining or education for you or your spouse or - Q7 y/ |9 |+ ]' e0 e! Fcommon-law partner. You do not have to include the ! Q8 |; m; d0 k2 b8 Xwithdrawn amounts in your income, and the RRSP issuer ! G1 f$ }- N3 j- \" z, @$ X; u( Hwill not withhold tax on these amounts. 5 A, z* x" u4 ?3 EYou have to repay these withdrawals to your RRSPs over a ; x1 C' ?& ?9 j. `
period of no more than 10 years. Any amount that you do ' l/ W* E: Q7 x. v# I% l* ynot repay when it is due will be included in your income 5 _5 Z0 @4 p& q! g# ufor the year it was due.