Is this guide for you? # ]: \# }: e, R+ d& ]Use this guide if you want information about participating / t" l1 n8 T) u/ h% J; h
in the Lifelong Learning Plan (LLP). 2 D& } Y/ z% T* e) j. tThe LLP allows you to withdraw amounts from your 8 @ [+ {& `% |% b# S# ~0 F2 ^registered retirement savings plans (RRSPs) to finance 1 V, ^( G" O& t6 P0 Straining or education for you or your spouse or ) c- n$ U- g. o9 O
common-law partner. You do not have to include the " U& x! ]( W: B5 ?4 mwithdrawn amounts in your income, and the RRSP issuer . o7 [/ ]# a9 m& }7 F
will not withhold tax on these amounts. 1 }! U. S8 i! X. c2 bYou have to repay these withdrawals to your RRSPs over a ) P5 [7 F3 N* p6 r: f3 \0 K) ]& X/ Aperiod of no more than 10 years. Any amount that you do 0 V4 G! e+ w. u' w0 e
not repay when it is due will be included in your income $ f# `0 e9 V o% k _& S
for the year it was due.