Is this guide for you? 2 k- B7 ]. {1 p7 k
Use this guide if you want information about participating 5 ]2 [7 T3 Y0 W9 `in the Lifelong Learning Plan (LLP). 4 @+ l' R M' h/ n
The LLP allows you to withdraw amounts from your ( d7 n8 B6 y) n J; [/ s2 m4 `. N, c6 z
registered retirement savings plans (RRSPs) to finance 3 t) c( J6 @' _( ytraining or education for you or your spouse or ; D1 X4 o4 I* ?0 W
common-law partner. You do not have to include the , |% X9 z+ Y6 ~+ P# @
withdrawn amounts in your income, and the RRSP issuer 5 q5 G! M; ]: b7 ^8 D3 d7 I9 E- j0 [will not withhold tax on these amounts. : a9 `3 n4 G. K. e4 a- r0 X A mYou have to repay these withdrawals to your RRSPs over a ' V& v8 B$ H3 U d2 Kperiod of no more than 10 years. Any amount that you do 1 C8 K$ |" d* @
not repay when it is due will be included in your income 8 v+ f" x k0 K. b3 I
for the year it was due.