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Is this guide for you?
0 V T( y" t9 z; g( mUse this guide if you want information about participating
" a$ b, B3 s% k, Q& win the Lifelong Learning Plan (LLP).
+ b% O( M( k$ z- R* @, ^. MThe LLP allows you to withdraw amounts from your
$ X* q8 ]9 x& z9 u' K2 L# v8 pregistered retirement savings plans (RRSPs) to finance
# Q. n% T r0 Gtraining or education for you or your spouse or
$ D+ \7 @$ p- q! h) L0 ocommon-law partner. You do not have to include the
) N7 C$ d) r' `, g% kwithdrawn amounts in your income, and the RRSP issuer
8 \4 V- y$ v {8 y% o5 \will not withhold tax on these amounts. / b+ M: E( i# j3 _/ `/ n& e1 W
You have to repay these withdrawals to your RRSPs over a
: D+ h k4 v9 d$ }) q* qperiod of no more than 10 years. Any amount that you do 6 E% @1 {& \- c* F4 F
not repay when it is due will be included in your income
' `2 s1 r3 |6 h/ i3 r& r- Y3 \for the year it was due. |
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