Is this guide for you? # @! K# o8 B5 u9 U' @$ hUse this guide if you want information about participating - R- _; T: `( ]! b- u' r* M* T) g
in the Lifelong Learning Plan (LLP). - }6 ~! N% h+ k( n2 n4 IThe LLP allows you to withdraw amounts from your 4 c. x3 h( @% }3 P( @4 J% b. H" T
registered retirement savings plans (RRSPs) to finance : ?# v- e7 Z3 l5 F% C' M2 s Q1 c
training or education for you or your spouse or % h% I& L* q" X+ H/ |( S7 Y5 V
common-law partner. You do not have to include the . T* P+ S* \; D/ L( ]withdrawn amounts in your income, and the RRSP issuer 0 ~+ w/ O) Q! t! |8 k3 {& h& s
will not withhold tax on these amounts. * K% s0 Z( P) W3 @$ M5 Y- M( Y% q
You have to repay these withdrawals to your RRSPs over a , w+ B' g" [" g7 K
period of no more than 10 years. Any amount that you do 8 w9 Z0 V; t" X! o' L9 ?, ?/ o
not repay when it is due will be included in your income + Z+ M" |/ F! q% M* a7 [9 L
for the year it was due.