Is this guide for you? / [! o% x0 o' i( q6 R* rUse this guide if you want information about participating : D/ d: w: F. r* G9 \$ H
in the Lifelong Learning Plan (LLP). % {! K" _( H5 q& h, L) D) EThe LLP allows you to withdraw amounts from your ) q0 j2 b" V3 h! V' W' S% {1 rregistered retirement savings plans (RRSPs) to finance # b% h; N; \/ k
training or education for you or your spouse or 9 C3 I6 _* e3 O) o' d) ycommon-law partner. You do not have to include the / P9 @- M4 c4 {! Nwithdrawn amounts in your income, and the RRSP issuer 6 O! v0 x& i& \6 _! M- ]+ r* X }
will not withhold tax on these amounts. : x! j9 I0 o T! j8 @- Z2 Y0 cYou have to repay these withdrawals to your RRSPs over a * \3 \* ? P* J$ l- Wperiod of no more than 10 years. Any amount that you do " O" z i8 F# P. dnot repay when it is due will be included in your income 4 ~' E C4 G* K4 m
for the year it was due.