Is this guide for you? 5 {% m1 W0 C* L2 \ w2 t1 ]
Use this guide if you want information about participating 1 f% D" J6 M* C9 n6 nin the Lifelong Learning Plan (LLP). 3 U: |" V! a! f, F8 p: b# t+ d" W+ TThe LLP allows you to withdraw amounts from your 3 k9 f u4 R7 bregistered retirement savings plans (RRSPs) to finance & g3 S+ _$ T- \1 R# H5 H. K8 O, S" |training or education for you or your spouse or # K2 Y0 p' j, l& L5 c% l5 k+ Q
common-law partner. You do not have to include the . o: t2 w4 _) ]/ z3 ^- C
withdrawn amounts in your income, and the RRSP issuer + H& i8 F& R# P* y; s7 @
will not withhold tax on these amounts. & b3 u& N' v% T! v. N4 k. T" T" Y; q
You have to repay these withdrawals to your RRSPs over a 1 V' g0 t" A6 n# M( Xperiod of no more than 10 years. Any amount that you do 7 K1 q8 w" q1 s% L
not repay when it is due will be included in your income # h7 _6 P4 k; J l: Bfor the year it was due.