Is this guide for you? - L! Z4 y. M" z9 |4 O' u! D: [# ] uUse this guide if you want information about participating R5 I \' ^$ h# N0 `; p4 H( min the Lifelong Learning Plan (LLP). $ F& M- [1 }1 q8 `+ JThe LLP allows you to withdraw amounts from your 0 Q' r8 M8 i3 @' u8 ~0 n0 z) Z
registered retirement savings plans (RRSPs) to finance 5 N/ F y8 m, z& u7 Q$ etraining or education for you or your spouse or * }2 h( H8 _7 |/ mcommon-law partner. You do not have to include the , u% N% X8 h5 Q4 Hwithdrawn amounts in your income, and the RRSP issuer \: J+ f- k Z2 `5 C' I
will not withhold tax on these amounts. 7 j: i( g; v' @: B9 qYou have to repay these withdrawals to your RRSPs over a ! T q% I1 G1 G2 Fperiod of no more than 10 years. Any amount that you do 3 S2 J$ W h$ K3 O7 `
not repay when it is due will be included in your income 5 b& J3 A" K* `; H9 Z2 ]5 k) L; N6 I# ]
for the year it was due.