Is this guide for you? ' _, h5 t& G/ N) f& \Use this guide if you want information about participating l3 X5 V3 Y# m2 [+ B
in the Lifelong Learning Plan (LLP). $ A! \0 \1 M. W7 S4 H) q& v) YThe LLP allows you to withdraw amounts from your - e0 {1 U' b1 W8 d, t' X/ Tregistered retirement savings plans (RRSPs) to finance ; V) C, O- x$ H9 m1 itraining or education for you or your spouse or 5 j* ~4 H7 l0 \8 M% O9 P
common-law partner. You do not have to include the - N8 U# u; q% l5 ~
withdrawn amounts in your income, and the RRSP issuer / G T/ ~; M/ F( Z1 e& }2 H/ ?
will not withhold tax on these amounts. & Z" Z3 J! I* U9 Q+ u: K3 JYou have to repay these withdrawals to your RRSPs over a 7 H5 j% L. n" q" \' ~: ~0 n
period of no more than 10 years. Any amount that you do 1 S; A$ b2 B/ t3 G4 h$ p
not repay when it is due will be included in your income + G+ t; \3 i. n" k7 [" o$ ^
for the year it was due.