Is this guide for you? 5 U& B5 }$ y x1 O/ o% @ f' }2 EUse this guide if you want information about participating * r7 X+ S) q# _" C6 h' b) d
in the Lifelong Learning Plan (LLP). + ?% A7 l4 Z. e0 ?& J8 p! e$ ]; UThe LLP allows you to withdraw amounts from your 4 V+ v" T( b% G. d b
registered retirement savings plans (RRSPs) to finance * g$ ~1 J8 m5 K4 t2 ytraining or education for you or your spouse or : K& S4 V: R4 {2 K- q1 C0 ?+ dcommon-law partner. You do not have to include the # R* x+ U0 k% b5 Z( Y2 B
withdrawn amounts in your income, and the RRSP issuer 4 g& w6 N9 ?# s* o9 v& h" Uwill not withhold tax on these amounts. N/ t7 J5 P- y& U5 i9 o
You have to repay these withdrawals to your RRSPs over a : K: @. P( \7 x7 h6 O7 }period of no more than 10 years. Any amount that you do , J1 I$ Z) V) L0 l
not repay when it is due will be included in your income " ~$ n/ \$ T# F+ Y: E5 Ffor the year it was due.