Is this guide for you? ' x5 @3 U, O, Q1 e9 f9 E
Use this guide if you want information about participating # c) |) c6 r( O% [in the Lifelong Learning Plan (LLP). 7 A! ~; ~3 Q- @5 d! @The LLP allows you to withdraw amounts from your 2 Q7 s. c; c% ?8 A
registered retirement savings plans (RRSPs) to finance 3 }3 `7 Z# `9 v8 }# L% ?- n2 \5 _! etraining or education for you or your spouse or % j6 E! H+ O2 i& K( ]1 I: u' Rcommon-law partner. You do not have to include the ! L9 A- t3 f2 t Mwithdrawn amounts in your income, and the RRSP issuer 1 y$ Q1 @( P' A. kwill not withhold tax on these amounts. + ?6 _5 A0 |9 N: |9 E
You have to repay these withdrawals to your RRSPs over a 0 `9 n; R5 A$ `1 a$ Tperiod of no more than 10 years. Any amount that you do 8 U4 ?& F; M$ }
not repay when it is due will be included in your income 8 s: @; O! k% y. U0 v9 H' P* Dfor the year it was due.