Is this guide for you? & p, |# Y$ Z3 x" [& \% v) P8 I( h7 yUse this guide if you want information about participating 5 `7 I4 u% _* j r1 H7 C$ Vin the Lifelong Learning Plan (LLP). * t0 R) T0 H1 mThe LLP allows you to withdraw amounts from your 3 r' Y, h, D1 j. X& Gregistered retirement savings plans (RRSPs) to finance # S3 P6 {- k: X. m& L! f+ A3 T4 n8 s- G
training or education for you or your spouse or ; q; R8 T6 j) E$ e6 `
common-law partner. You do not have to include the & M7 J! L& _! q6 Zwithdrawn amounts in your income, and the RRSP issuer 6 B$ s; U9 ]0 ?1 k8 g) C" F- z2 Ewill not withhold tax on these amounts. ' R; k% Y! o7 g9 l7 z1 v
You have to repay these withdrawals to your RRSPs over a : t" [/ x! _- j: j. c
period of no more than 10 years. Any amount that you do 4 j) R# k( P7 Q. F6 V; pnot repay when it is due will be included in your income & M1 [; A2 J: a+ Nfor the year it was due.