Is this guide for you? 6 {- H( N4 @3 @/ c
Use this guide if you want information about participating : B: c9 i E5 f4 n( ~& }6 l
in the Lifelong Learning Plan (LLP). ! E: @) p* u" ^) { h* W3 e, v B
The LLP allows you to withdraw amounts from your 9 J( R1 G6 Q# _registered retirement savings plans (RRSPs) to finance 3 Q) {$ t9 d0 w# G- @$ htraining or education for you or your spouse or * `& r4 a# M7 S: ]
common-law partner. You do not have to include the 0 S! u9 x- L' l, O5 nwithdrawn amounts in your income, and the RRSP issuer 2 h7 x2 B) A' C( n5 f
will not withhold tax on these amounts. . @' y: Z" f" f! k" T& bYou have to repay these withdrawals to your RRSPs over a & q2 J) G E1 I7 M
period of no more than 10 years. Any amount that you do $ h6 T8 B9 L% t& ?not repay when it is due will be included in your income % b. `3 U$ @) `* n1 W- L' I" f- D
for the year it was due.