Is this guide for you? # i J1 P: y" s1 _: S- F: r" D
Use this guide if you want information about participating 8 Y: J0 n: S2 I" O$ ]& C
in the Lifelong Learning Plan (LLP). & r9 E7 u3 B& b, ^The LLP allows you to withdraw amounts from your ! R. I0 h9 @( W! l
registered retirement savings plans (RRSPs) to finance . Q/ J7 I& Z2 C- Itraining or education for you or your spouse or 8 l7 T5 v: F% O6 l) S1 e+ fcommon-law partner. You do not have to include the 1 c6 ?. Z# S7 w+ fwithdrawn amounts in your income, and the RRSP issuer ! ~- i1 I7 b7 b d) ]6 Y2 r9 `will not withhold tax on these amounts. 0 T9 x+ E4 I2 A# W/ t9 ]You have to repay these withdrawals to your RRSPs over a $ E3 k j3 j4 q" `! ?8 d
period of no more than 10 years. Any amount that you do I1 K; q" h, q
not repay when it is due will be included in your income 6 W& B' n" ]/ w# P$ q3 efor the year it was due.