Is this guide for you? 0 W* z4 i7 y$ ?& C( T4 SUse this guide if you want information about participating 7 T: I7 @$ P5 a* ^
in the Lifelong Learning Plan (LLP). # }+ L7 a- R) _* s
The LLP allows you to withdraw amounts from your z! V7 Q# a7 U" ^: Y
registered retirement savings plans (RRSPs) to finance * z5 Z7 Y9 ?' f9 m2 D
training or education for you or your spouse or 3 D1 U+ G) i" v! q- Kcommon-law partner. You do not have to include the 4 Z! Z, I, a: ]2 Rwithdrawn amounts in your income, and the RRSP issuer 0 Q! a3 N: V9 [' o1 f& _+ p: owill not withhold tax on these amounts. 8 k4 @2 |, }# ]( N
You have to repay these withdrawals to your RRSPs over a 8 L! n5 p$ C5 e
period of no more than 10 years. Any amount that you do 3 a" r5 S3 R- l% D" R) ^6 L
not repay when it is due will be included in your income / D- J& U+ ]% o1 N Z' Tfor the year it was due.