Is this guide for you? . d! I+ q/ v* Q" h% DUse this guide if you want information about participating + k: h" U% I( J
in the Lifelong Learning Plan (LLP). : U7 Z& s: X: S3 \2 }
The LLP allows you to withdraw amounts from your , [- B. a- _8 @& e! b- C6 ]
registered retirement savings plans (RRSPs) to finance ( n2 `/ ?8 W* w' ktraining or education for you or your spouse or 3 L1 }( O. S+ q% [# y
common-law partner. You do not have to include the z" W6 F9 H9 M4 \/ s" y) A& x
withdrawn amounts in your income, and the RRSP issuer ( L9 U% ?8 U* Z; s0 Jwill not withhold tax on these amounts. ; ?/ P0 f& M" j% h1 @You have to repay these withdrawals to your RRSPs over a . `* K4 I* \" f8 A) {; B
period of no more than 10 years. Any amount that you do ?& Z4 f& P- u5 nnot repay when it is due will be included in your income 7 B; U" z$ z3 Y, v/ R' k
for the year it was due.