Is this guide for you? + j0 D/ L. T/ \, `4 f8 |) f/ a
Use this guide if you want information about participating 1 L+ P8 y: _: o) x* Z3 i* s+ A
in the Lifelong Learning Plan (LLP). 1 |' d2 V# s5 wThe LLP allows you to withdraw amounts from your " l w2 l% }9 z& i7 e3 y _7 Y9 qregistered retirement savings plans (RRSPs) to finance ' S' W8 Q S2 W8 i" R, o3 V5 K$ c
training or education for you or your spouse or + m4 Q0 Z9 T$ g" v c' j
common-law partner. You do not have to include the 8 `- M- ^$ l, @" Cwithdrawn amounts in your income, and the RRSP issuer + h7 Z0 m7 t ?4 b- {9 Nwill not withhold tax on these amounts. # ^$ C$ e* w% W) x6 B$ OYou have to repay these withdrawals to your RRSPs over a ( c ^8 Q: e5 o X7 K# p; y
period of no more than 10 years. Any amount that you do 3 U! [4 c4 F# I+ F5 C! i6 |
not repay when it is due will be included in your income - t' }8 ?7 a# {: d8 @
for the year it was due.