Is this guide for you? * x' j5 v! Q6 @. j4 A
Use this guide if you want information about participating ; D" Y( H9 q" m& Vin the Lifelong Learning Plan (LLP). " p7 K3 r4 Y4 d% j* z3 pThe LLP allows you to withdraw amounts from your * W- @4 T9 h, v8 A R5 m+ [registered retirement savings plans (RRSPs) to finance |& t5 h5 E% V; B3 n$ G0 Ztraining or education for you or your spouse or ; x9 e3 m Z, G$ K2 gcommon-law partner. You do not have to include the # p: W) G8 u( d) k$ ]% c' c+ ^
withdrawn amounts in your income, and the RRSP issuer @/ ~8 E7 K1 K5 D( Bwill not withhold tax on these amounts. H( x& a1 C8 J9 a8 R
You have to repay these withdrawals to your RRSPs over a 9 \8 f. e C2 W, Y6 {; q3 ?2 H9 f5 l
period of no more than 10 years. Any amount that you do ! n: A9 l8 @% n/ N
not repay when it is due will be included in your income & Y# X5 s7 L0 E0 h: X. H
for the year it was due.