Is this guide for you? & n( }% i% Y9 }+ iUse this guide if you want information about participating , N& m% L. e/ ein the Lifelong Learning Plan (LLP). : A& C) Y( Y( }The LLP allows you to withdraw amounts from your 2 X; z5 ~0 C3 M! F" X2 @registered retirement savings plans (RRSPs) to finance % w c0 _) y! S: i$ \0 j) G
training or education for you or your spouse or 2 ~# v# c! H2 U6 r6 S8 l" tcommon-law partner. You do not have to include the ! u5 P* O- J! x; {withdrawn amounts in your income, and the RRSP issuer & j2 _7 {* y8 @( F+ J0 k1 X zwill not withhold tax on these amounts. 7 B' Y# S1 l0 W' d: A6 U2 Q# v
You have to repay these withdrawals to your RRSPs over a ) Y/ P8 `7 F; j rperiod of no more than 10 years. Any amount that you do ! I0 q2 I0 v+ Z( y# wnot repay when it is due will be included in your income 3 A) n( f3 Y4 `) Y8 V
for the year it was due.