Is this guide for you? + g! k: s2 d$ r6 `Use this guide if you want information about participating 9 Q7 F8 i- D1 x3 W
in the Lifelong Learning Plan (LLP). ! o3 b; c- q( D# OThe LLP allows you to withdraw amounts from your & H( q9 r( i. T* b$ U+ y) ]- v
registered retirement savings plans (RRSPs) to finance 0 B' C5 i% W1 u" `
training or education for you or your spouse or $ [/ h. H8 W; _" ]+ W. Ncommon-law partner. You do not have to include the . x5 ]9 K( {/ `& a1 N
withdrawn amounts in your income, and the RRSP issuer - `: o1 Y& [0 l9 T
will not withhold tax on these amounts. 7 v: Q0 h7 ~" g# D; @# k7 dYou have to repay these withdrawals to your RRSPs over a , l* p& Y. [2 uperiod of no more than 10 years. Any amount that you do 5 X: J) G' ?6 C& C: n9 ?
not repay when it is due will be included in your income . x V; ^! `) p7 W- y+ _for the year it was due.