Is this guide for you? % G3 y# E1 b L1 U: ]4 JUse this guide if you want information about participating & i9 G( z6 }; ~( t. b
in the Lifelong Learning Plan (LLP). & N* A1 ^2 T, ^! nThe LLP allows you to withdraw amounts from your ; m3 A( Z3 t' D. Y( K
registered retirement savings plans (RRSPs) to finance . A: a' W( x% y. Z
training or education for you or your spouse or ( }0 {; w- n9 ecommon-law partner. You do not have to include the 2 E* R4 c! L' ~ |withdrawn amounts in your income, and the RRSP issuer ; H+ d; b! F0 q: q) `3 o
will not withhold tax on these amounts. # o4 J' { r8 d5 N. B
You have to repay these withdrawals to your RRSPs over a ! b, Z; ^$ L# _& pperiod of no more than 10 years. Any amount that you do + z# J3 Y" D/ s& H: C6 t. h
not repay when it is due will be included in your income # C6 j% U. o& ufor the year it was due.