Is this guide for you? ( P& c: G& ]& P) X
Use this guide if you want information about participating ; K# P' `6 Y9 Rin the Lifelong Learning Plan (LLP). ' _6 G9 G. _$ ^# w( W5 Y6 W+ v; @
The LLP allows you to withdraw amounts from your 3 n: C( w* d5 n) g4 h6 e/ e) D+ n3 Oregistered retirement savings plans (RRSPs) to finance 7 Y1 s1 l( w0 ?
training or education for you or your spouse or / P) b; ~9 d( X- f0 gcommon-law partner. You do not have to include the / r* _9 H1 h. K3 o: }+ x5 S, Ywithdrawn amounts in your income, and the RRSP issuer ) _; m9 Q& Z" q+ N( { N3 Q xwill not withhold tax on these amounts. & M# X4 I3 G4 j' Z4 {* h- {6 j# E3 @# N* ]You have to repay these withdrawals to your RRSPs over a - Z! i K( D) N5 D+ W: b
period of no more than 10 years. Any amount that you do : h. D) H7 e3 s0 k* hnot repay when it is due will be included in your income - w7 ?& Q5 @% F i; `8 u$ l
for the year it was due.