Is this guide for you? - I" }4 D: n: s6 ^- fUse this guide if you want information about participating 7 N" r% X* b( din the Lifelong Learning Plan (LLP). ; n/ v4 Q4 R$ Q g5 _
The LLP allows you to withdraw amounts from your # N4 Y5 M( C2 y+ |) kregistered retirement savings plans (RRSPs) to finance ' h: B4 M: m1 }" C3 [training or education for you or your spouse or # }! w/ d* {* C4 P% ], d: ]+ j0 Qcommon-law partner. You do not have to include the 5 {5 G. x9 g9 h& ~* V0 P# u3 [withdrawn amounts in your income, and the RRSP issuer & Q- t Q$ @$ i$ P# T
will not withhold tax on these amounts. " R5 Z5 {' S; n) w5 e; |& u( t. sYou have to repay these withdrawals to your RRSPs over a ( s! r" U3 `/ dperiod of no more than 10 years. Any amount that you do : T! I) G; i3 }9 z, anot repay when it is due will be included in your income ' Q! `3 _, d" P8 V
for the year it was due.