Is this guide for you? 7 e: H, [& N8 r3 P* cUse this guide if you want information about participating # J( S) X* k: v' V. V, Q
in the Lifelong Learning Plan (LLP). 4 G3 B, I9 j Z2 I3 ?* k
The LLP allows you to withdraw amounts from your ' N j0 o1 F( F. A* Z
registered retirement savings plans (RRSPs) to finance / c0 h5 w5 ]7 O- W- [- V; Xtraining or education for you or your spouse or . X7 b! ?/ w3 ~7 y v% Hcommon-law partner. You do not have to include the % w6 M" ]0 `7 o* R9 ~" i. \3 T
withdrawn amounts in your income, and the RRSP issuer $ u2 g2 O1 \* A
will not withhold tax on these amounts. ( j$ h7 ]8 u! [& {) m( U
You have to repay these withdrawals to your RRSPs over a / {7 {* n! q6 Z ?period of no more than 10 years. Any amount that you do j$ ?# H8 M V2 ]! mnot repay when it is due will be included in your income 7 f/ [; G8 |- h$ N) dfor the year it was due.