Is this guide for you? / q; l b# b, h; C$ B& w
Use this guide if you want information about participating 6 W+ S4 C0 H. Y. cin the Lifelong Learning Plan (LLP). ' _6 v- J7 o% e( J
The LLP allows you to withdraw amounts from your ' o3 R* H( _& u- I- S2 `
registered retirement savings plans (RRSPs) to finance ! w ?$ q7 x" c1 x: D* J/ h% G
training or education for you or your spouse or 5 T. `9 ]0 D& T5 z& C( [, n
common-law partner. You do not have to include the 7 s$ \2 M' [( ~# ~0 fwithdrawn amounts in your income, and the RRSP issuer * f* u+ U. [4 |1 ^
will not withhold tax on these amounts. # N5 |0 @ p: d" b; TYou have to repay these withdrawals to your RRSPs over a 6 P* E! b7 U" b9 ]$ Cperiod of no more than 10 years. Any amount that you do I+ o* F4 o( u7 X {, |* o; b- nnot repay when it is due will be included in your income 6 V3 g9 G3 l' }' I' \- qfor the year it was due.