Is this guide for you? 1 q1 w. I2 ]8 Y$ t; s
Use this guide if you want information about participating ; x" A* K! ^5 k) e
in the Lifelong Learning Plan (LLP). . s1 L4 \$ D3 [ e7 U2 Y4 R
The LLP allows you to withdraw amounts from your 9 C( K) j7 R' @6 T
registered retirement savings plans (RRSPs) to finance 3 B) W5 X! H/ D0 w9 N' wtraining or education for you or your spouse or ' @: [+ [1 u. B+ K. s
common-law partner. You do not have to include the 7 R! O0 K% L( Y5 G+ M3 Q# F, G
withdrawn amounts in your income, and the RRSP issuer % V/ `! f8 m F8 {
will not withhold tax on these amounts. - ^5 O2 v9 g0 d& }. Q2 g# ~
You have to repay these withdrawals to your RRSPs over a ' P3 Y( ?, m y9 I: o: o0 gperiod of no more than 10 years. Any amount that you do 5 T- i2 ]2 F/ a% q) J$ M' x3 {* Z) \
not repay when it is due will be included in your income / u# |1 b* d6 \9 E# s1 Dfor the year it was due.