Is this guide for you? $ x; }( K- o# x& Z* A, q% S3 l+ Y
Use this guide if you want information about participating & r9 C0 w( ]3 [; H8 L; ^- m
in the Lifelong Learning Plan (LLP). 9 h1 f/ _0 c! n; d0 }The LLP allows you to withdraw amounts from your - g$ u3 g3 {* w) Z. Z; |registered retirement savings plans (RRSPs) to finance ( `) ^' ~$ p- |% m* {; T3 g/ |" _training or education for you or your spouse or . |, U9 E4 H/ w L- N
common-law partner. You do not have to include the 2 q" e8 M9 D9 m: i& V* d0 Swithdrawn amounts in your income, and the RRSP issuer / n# u1 v6 i+ L7 [will not withhold tax on these amounts. 0 I9 |4 h# u* c+ H( H ^8 F
You have to repay these withdrawals to your RRSPs over a 6 I: V! Y9 y4 v E: Tperiod of no more than 10 years. Any amount that you do , Z0 [6 ^/ r/ m- P& x9 p5 D# L
not repay when it is due will be included in your income ; ~$ v( x9 L( o! {
for the year it was due.