Is this guide for you? 9 b6 T; u0 \! b: m2 uUse this guide if you want information about participating " c( a0 m& v( ~* S) }in the Lifelong Learning Plan (LLP). & [3 A9 U( ~4 Q& z3 c& g% L
The LLP allows you to withdraw amounts from your ; t1 N: d3 E. C* m) |
registered retirement savings plans (RRSPs) to finance ' D ^0 x* O3 |! Z6 e( ctraining or education for you or your spouse or . _, I( |( g$ s9 R7 f, X
common-law partner. You do not have to include the 3 _! Q* A( D% W+ Q$ _) Ewithdrawn amounts in your income, and the RRSP issuer - [1 S+ {' t9 p/ |will not withhold tax on these amounts. , L) f0 |' A; ^8 G( CYou have to repay these withdrawals to your RRSPs over a 2 O4 ?% s! i: ~ ]1 Tperiod of no more than 10 years. Any amount that you do ' B6 X @/ T6 f" A G/ @6 u; z- v
not repay when it is due will be included in your income * c" ^3 V* k; w$ T/ H" p8 J" Bfor the year it was due.