Is this guide for you? 7 Y2 M- P M& w! p
Use this guide if you want information about participating 3 @) \+ U+ x- T
in the Lifelong Learning Plan (LLP). 0 y# K+ O$ S, ]& {1 w/ HThe LLP allows you to withdraw amounts from your 1 `" p0 C7 U& ]4 y9 ^7 j5 ^3 Oregistered retirement savings plans (RRSPs) to finance ! Z' \, `3 ?* btraining or education for you or your spouse or ) s7 D: ~: l M j% t5 n9 t; H0 v
common-law partner. You do not have to include the 3 u- O* T0 r) T3 }* l* {withdrawn amounts in your income, and the RRSP issuer 8 U. N/ s& h7 N" o& Vwill not withhold tax on these amounts. , _7 y+ K0 {! aYou have to repay these withdrawals to your RRSPs over a $ ^9 G; c" m3 b% H# ~0 f
period of no more than 10 years. Any amount that you do 8 k( Q1 V" K. f- o- _7 t
not repay when it is due will be included in your income 2 z/ l6 S# g/ v* ^6 x8 }( H2 ^4 }
for the year it was due.