Is this guide for you? # ?9 J( |( }, rUse this guide if you want information about participating 7 ^* ~7 F% @8 @+ e
in the Lifelong Learning Plan (LLP). 1 D/ A3 W) ] J6 ?" n/ ^The LLP allows you to withdraw amounts from your . u/ R# n2 P4 _" z5 y' T6 U& y$ I
registered retirement savings plans (RRSPs) to finance * z' U% s. {/ y6 U; K
training or education for you or your spouse or / f5 f5 O1 I. o0 B. i/ d; n! C
common-law partner. You do not have to include the ! Z0 u- J& H$ Y- A6 v$ J
withdrawn amounts in your income, and the RRSP issuer . G8 V, @( j; S. p8 u& V
will not withhold tax on these amounts. - S% Y4 J. f0 A
You have to repay these withdrawals to your RRSPs over a 0 ~& @1 k6 S9 G- K- t
period of no more than 10 years. Any amount that you do # v" v! ?) W" u: x" O
not repay when it is due will be included in your income 9 i' b% ]! t/ z# W' qfor the year it was due.