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Is this guide for you?
# Y5 H& J# B) ^4 WUse this guide if you want information about participating
" Z Y8 @3 b5 a. H V" r' Bin the Lifelong Learning Plan (LLP). % ]0 R' H/ o5 M* D6 y" J
The LLP allows you to withdraw amounts from your
- n2 t2 n. k1 Dregistered retirement savings plans (RRSPs) to finance
1 ~) \, J/ f9 J9 utraining or education for you or your spouse or
% U9 p5 y. }# ?- l, _8 Qcommon-law partner. You do not have to include the
7 T/ b; b! h3 I( K% @5 i+ awithdrawn amounts in your income, and the RRSP issuer
$ H c( a! l& [3 W6 Fwill not withhold tax on these amounts. , }( _4 \1 |& F" N
You have to repay these withdrawals to your RRSPs over a
" ~/ V$ l9 z" f f; u; q! uperiod of no more than 10 years. Any amount that you do
& [ |8 P( R- V; b- E, gnot repay when it is due will be included in your income
, ]# _' A8 [: v- rfor the year it was due. |
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