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Is this guide for you? 2 n7 @- r9 i+ e3 s- P/ p
Use this guide if you want information about participating * ^% m8 T! D: N
in the Lifelong Learning Plan (LLP).
6 a4 z! i; h; r! Z/ A YThe LLP allows you to withdraw amounts from your 9 _0 D( i) L2 U
registered retirement savings plans (RRSPs) to finance / S4 V, { x, e1 A2 a, t( o
training or education for you or your spouse or
& e% l$ d$ O. f7 _common-law partner. You do not have to include the
3 N9 k0 Y( L9 u% u$ Rwithdrawn amounts in your income, and the RRSP issuer 3 g# N/ ?( P8 b4 l- q" ]1 [$ V
will not withhold tax on these amounts. % f2 s/ N) K7 [. `' W
You have to repay these withdrawals to your RRSPs over a 8 P- \& |" x2 {: Q, ]
period of no more than 10 years. Any amount that you do
$ Z- X4 E0 m2 @$ c* [8 M! J8 Qnot repay when it is due will be included in your income
$ L R4 `" \* ], b! d! u. u: ?for the year it was due. |
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