Is this guide for you? 6 P$ |; _1 a; ~1 r8 P. S$ DUse this guide if you want information about participating " b- K9 ?( u4 D* k
in the Lifelong Learning Plan (LLP). ! Q! R3 m: U% U$ |+ BThe LLP allows you to withdraw amounts from your 2 X [9 y j# F5 L1 [: S/ o. [registered retirement savings plans (RRSPs) to finance $ B" u/ h- n- btraining or education for you or your spouse or ) S+ r$ ] u# J9 T/ }* ?1 ncommon-law partner. You do not have to include the , ?: r( G& V% U7 R, [
withdrawn amounts in your income, and the RRSP issuer . P4 {8 O+ f% c5 z) ~2 T0 W/ f Pwill not withhold tax on these amounts. % j% h* Z# j' g. @3 c1 o5 b! D
You have to repay these withdrawals to your RRSPs over a 1 |( ?3 v( Q5 D4 t s
period of no more than 10 years. Any amount that you do & d' f4 M; G) L7 nnot repay when it is due will be included in your income + G6 e7 q* l4 x# R. kfor the year it was due.