Is this guide for you? M# a* G$ F" c/ d
Use this guide if you want information about participating 2 \+ k% n7 ]% ^7 \3 u. h
in the Lifelong Learning Plan (LLP). ' t6 h; q6 x# ]/ H- i. d. sThe LLP allows you to withdraw amounts from your - G& x5 {! C0 i8 @' Fregistered retirement savings plans (RRSPs) to finance / A; r- |5 d9 n! G" C2 w% R& [+ a
training or education for you or your spouse or / `4 R5 J% x% ~4 D* ^, Ocommon-law partner. You do not have to include the % D5 A) y* S, S) z& L( p/ S& @1 x
withdrawn amounts in your income, and the RRSP issuer 2 Z9 |+ e2 v1 J5 e7 w; T# Iwill not withhold tax on these amounts. " ]' X/ r; R/ F- g' q! w1 M! h5 W
You have to repay these withdrawals to your RRSPs over a ' K6 n$ v- J& w* f" U
period of no more than 10 years. Any amount that you do ! |3 r5 f1 L; j
not repay when it is due will be included in your income ! G* m: y7 I! qfor the year it was due.