Is this guide for you? ' T8 ^* ^0 L6 d& Q; l: l* N+ _
Use this guide if you want information about participating 4 q8 o) H! u& }- l Lin the Lifelong Learning Plan (LLP). ) v z1 p* U# r# f2 ~$ ?+ |# OThe LLP allows you to withdraw amounts from your : a( r$ ]% k. y% o i$ Eregistered retirement savings plans (RRSPs) to finance 7 M1 S% f6 F$ u' L( H
training or education for you or your spouse or * c% l0 L( H. j# a1 Fcommon-law partner. You do not have to include the - o( b) |* P8 C; `1 _7 G$ zwithdrawn amounts in your income, and the RRSP issuer & S! I9 J7 N. i& [6 i& @
will not withhold tax on these amounts. 3 w& s6 f! e6 `6 ^/ E# l) f/ s
You have to repay these withdrawals to your RRSPs over a # ^7 }9 `! C- X4 r Kperiod of no more than 10 years. Any amount that you do 7 T+ i& p& C3 Y- w( u/ gnot repay when it is due will be included in your income + x1 o; T( _% _. s0 K3 s
for the year it was due.