Is this guide for you? ; U* B. I0 u4 A8 ^9 A9 QUse this guide if you want information about participating , x4 L& q+ {% T/ L/ e
in the Lifelong Learning Plan (LLP). 5 |: d4 f" P: f! M7 p
The LLP allows you to withdraw amounts from your ) | H' {1 Y- n" ?+ t8 ]( j( Eregistered retirement savings plans (RRSPs) to finance + N" ` [4 j L$ o$ |% dtraining or education for you or your spouse or $ T% S4 i* U e4 J
common-law partner. You do not have to include the ; K C9 w9 B, m8 swithdrawn amounts in your income, and the RRSP issuer ; b9 L7 { U5 {will not withhold tax on these amounts. # y7 T) y, _9 a& e1 UYou have to repay these withdrawals to your RRSPs over a 6 M* z/ Y' Z- t- rperiod of no more than 10 years. Any amount that you do ( h# U0 T: d( b+ e" G! b$ t
not repay when it is due will be included in your income " y. ]5 H3 c E- M6 x! o1 Z
for the year it was due.