Is this guide for you? * Z' Y" R1 u dUse this guide if you want information about participating 1 Y& ?. r b) e9 z2 m6 g
in the Lifelong Learning Plan (LLP). + c% o: w V5 Q$ {; z
The LLP allows you to withdraw amounts from your 5 _/ f+ v% x( o
registered retirement savings plans (RRSPs) to finance # V2 ]( P5 D, ?training or education for you or your spouse or 7 k. G8 k" I" s% [* E$ b9 z; i
common-law partner. You do not have to include the + c3 [* |) T% _7 A; mwithdrawn amounts in your income, and the RRSP issuer $ [5 n- n8 r( x( H; P3 {4 nwill not withhold tax on these amounts. 0 X# O; _2 L* m) YYou have to repay these withdrawals to your RRSPs over a ! g. g- N2 [ E. jperiod of no more than 10 years. Any amount that you do a; b4 z+ A9 j& j' T! [) ?
not repay when it is due will be included in your income - }* g# n: w; U d$ Q$ p3 Hfor the year it was due.