Is this guide for you? # C& d/ u0 K! o
Use this guide if you want information about participating / r B; F' q& c) Z1 ?in the Lifelong Learning Plan (LLP). / l7 w% T0 b4 `. H. O3 P# d# u
The LLP allows you to withdraw amounts from your % r* T6 i* f$ O- G
registered retirement savings plans (RRSPs) to finance ; x) T9 x$ T7 _1 jtraining or education for you or your spouse or % J8 ~7 N6 E8 O( ncommon-law partner. You do not have to include the % y6 S% f5 P' ]5 c2 m6 Z6 m4 kwithdrawn amounts in your income, and the RRSP issuer $ L5 a8 }/ `1 h6 Rwill not withhold tax on these amounts. % y* F+ g) X6 v, x3 PYou have to repay these withdrawals to your RRSPs over a 7 ?$ {7 U; q$ i0 I" ~4 h! e/ ?8 Aperiod of no more than 10 years. Any amount that you do ?& w9 c4 o4 v, V* B. y3 G8 G
not repay when it is due will be included in your income ( x" S. D% h2 E& ?8 L8 W2 p0 ifor the year it was due.