How is a lump sum severance payment taxed? If you lose your job and receive severance pay, it can be paid out in a lump sum. Generally, it is a certain number of weeks of salary that increases based on factors such as seniority, age and length of service. However, other factors may play a […]
Statutory versus common law dismissal In every province and territory there are statutory minimum payments you are entitled to as an employee whose employment is terminated. This is called termination fee. This usually applies after three months of continuous employment and is intended as a safety net if you are dismissed without reason. Severance pay […]