Is this guide for you? + Y8 ?% ^! p% z
Use this guide if you want information about participating 8 d: H! K& W; w& kin the Lifelong Learning Plan (LLP). 9 S5 w2 \* R. a# T" ]
The LLP allows you to withdraw amounts from your + Y3 r9 ?7 }6 `% j: e! K
registered retirement savings plans (RRSPs) to finance c2 D1 w0 x9 j5 jtraining or education for you or your spouse or 4 l4 X* O8 t( M" t. |* icommon-law partner. You do not have to include the ! h0 e$ _+ |! S) ~withdrawn amounts in your income, and the RRSP issuer n" [1 F* E4 e: J. B/ ~4 Fwill not withhold tax on these amounts. / g4 x" e5 ~! q3 A' i8 f9 X
You have to repay these withdrawals to your RRSPs over a " D" c: }1 [' T: K6 p
period of no more than 10 years. Any amount that you do 0 u; z7 [& I: m6 [7 r
not repay when it is due will be included in your income ' K% k- `6 I& f8 i1 |/ z& I% H
for the year it was due.