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Is this guide for you? ( X! W1 I& _( s' O+ A
Use this guide if you want information about participating ' v# ~) {, |- U! ]* W7 s" }& s* ~
in the Lifelong Learning Plan (LLP). " x4 Q# j, c) c i7 V! x& G' ~
The LLP allows you to withdraw amounts from your
5 i V! k e7 r1 P3 Hregistered retirement savings plans (RRSPs) to finance $ q' {& n/ Q2 l2 A. [
training or education for you or your spouse or 7 Q( C! P1 i3 K
common-law partner. You do not have to include the 0 I5 h1 s# M, [0 _4 `" t0 D
withdrawn amounts in your income, and the RRSP issuer
! x. s9 w, N. H; t% Ywill not withhold tax on these amounts.
4 p( l& g. i9 t0 s9 B: i; TYou have to repay these withdrawals to your RRSPs over a 3 M' A) G) c) G" c D! H
period of no more than 10 years. Any amount that you do ; ? w! P* I; u1 W& R
not repay when it is due will be included in your income * |8 _& e. e8 g
for the year it was due. |
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