Is this guide for you? 0 Y/ a" F& M; s. E, EUse this guide if you want information about participating 5 l. H8 q& C8 a# vin the Lifelong Learning Plan (LLP). ) Q# _) j5 q2 ~' v* |0 oThe LLP allows you to withdraw amounts from your ; c& B: J" m! e1 [/ wregistered retirement savings plans (RRSPs) to finance ! g3 D; b- i' t# J
training or education for you or your spouse or ' e( j( Q' `6 a
common-law partner. You do not have to include the 5 _9 H% I7 G+ P2 u r! b# ^withdrawn amounts in your income, and the RRSP issuer * u* M( q& v( Q! {: Twill not withhold tax on these amounts. ' i$ ]2 F8 d( K9 `, n$ |
You have to repay these withdrawals to your RRSPs over a 6 q3 h! k; X( W0 Q
period of no more than 10 years. Any amount that you do ) q7 s6 k" N7 b
not repay when it is due will be included in your income 6 s5 f) h0 L8 D* l- y0 ~for the year it was due.