Is this guide for you? " T! {4 i4 E1 [) o6 k
Use this guide if you want information about participating $ y* E) h: J9 z8 H7 o
in the Lifelong Learning Plan (LLP). ) d0 D% S9 ~+ u& NThe LLP allows you to withdraw amounts from your 8 w; X7 ]$ B9 p! M u. q% F) I# rregistered retirement savings plans (RRSPs) to finance 3 ^" u/ y' W/ F, q* |
training or education for you or your spouse or * P }. D. Z; e; N5 t, h
common-law partner. You do not have to include the . R5 s7 l4 {7 Q2 p2 M9 W# L
withdrawn amounts in your income, and the RRSP issuer 6 w `0 f6 U( V3 B2 gwill not withhold tax on these amounts. + s' Q6 S1 w: UYou have to repay these withdrawals to your RRSPs over a 4 _; I6 W) w; u: H. N& Yperiod of no more than 10 years. Any amount that you do & N7 _4 D. ?6 ^1 a
not repay when it is due will be included in your income o( J7 U8 b/ D. N: o; J0 f4 q
for the year it was due.