Is this guide for you? / ~& u( ~! X4 r' s$ z
Use this guide if you want information about participating 4 I: O9 z3 S, N& @" L& n/ d
in the Lifelong Learning Plan (LLP). 0 I; M( i$ u/ c8 H0 K/ o2 I
The LLP allows you to withdraw amounts from your ' k5 h7 t5 e* l
registered retirement savings plans (RRSPs) to finance * [; s& [) ^! [9 Z4 Q) v
training or education for you or your spouse or $ ^# S+ t1 L" r: Bcommon-law partner. You do not have to include the & C j$ h% j3 n/ d A: k0 W" fwithdrawn amounts in your income, and the RRSP issuer ) D* E' Z# [% t1 t! U8 u6 m
will not withhold tax on these amounts. ! n& S* e5 D9 o
You have to repay these withdrawals to your RRSPs over a ) Z h0 e. y, B% W1 x
period of no more than 10 years. Any amount that you do , x9 |- H+ x1 t- C* S
not repay when it is due will be included in your income ) T2 l7 D# ^# P8 A) K/ a; V. c
for the year it was due.