Is this guide for you? . S% W2 |5 M* N3 \
Use this guide if you want information about participating ( ~! V8 _+ v% A/ @
in the Lifelong Learning Plan (LLP). ) }" F: v$ y& B- b; o7 ]The LLP allows you to withdraw amounts from your ' }: a$ ^- c0 X6 Y/ i9 jregistered retirement savings plans (RRSPs) to finance ) P. C, |1 L S# _) O: straining or education for you or your spouse or 8 F3 ~/ ~5 U8 ~) P
common-law partner. You do not have to include the + y5 C" W" X# y8 w8 t9 Vwithdrawn amounts in your income, and the RRSP issuer # V3 t6 Q: m' L3 qwill not withhold tax on these amounts. $ p' C: p) G3 Z5 w" }0 Z4 K# J% v
You have to repay these withdrawals to your RRSPs over a ( {* V, q1 @- uperiod of no more than 10 years. Any amount that you do ) n1 S1 X7 g9 H) t( `0 w! hnot repay when it is due will be included in your income ! k# A) F: i# J
for the year it was due.