Is this guide for you? 8 V( M( f1 Q! [* V! [Use this guide if you want information about participating ( F0 P+ q, W ]& k+ V+ Z7 N
in the Lifelong Learning Plan (LLP). ! o. g9 R0 I0 T, D9 FThe LLP allows you to withdraw amounts from your / ~$ O- h0 L4 Z$ u+ T8 l
registered retirement savings plans (RRSPs) to finance 6 _3 R' @! r8 @ Q8 L) U# }$ a* J
training or education for you or your spouse or / a3 O: D: F- n. H3 R0 } acommon-law partner. You do not have to include the . f9 n* n2 m' c" P& r, k
withdrawn amounts in your income, and the RRSP issuer ' u1 h: ?$ m8 m( Q5 B
will not withhold tax on these amounts. 8 q6 _) v! x8 Y! ^" i
You have to repay these withdrawals to your RRSPs over a * J% x( [: ^% Q' Y8 Q. @! Aperiod of no more than 10 years. Any amount that you do . n7 e7 \: v5 E& J. H3 h) }' [not repay when it is due will be included in your income ; i8 l" T5 @/ ?
for the year it was due.