Have you ever wondered what the Tax Treatment of your Severance Pay you received in a settlement or in Court ? Continue reading to find out. Topics Will be Covered in This Post: How are Severance Pay Taxed? Employment Income Retiring Allowances Non-Taxable Receipts Determining the Characterization of a Dual Purposes Termination Payment Transferring Some or All of a Retiring Allowance Directly into an RRSP or RPP Legal Fees Paid to Obtain a Retiring Allowance or Employment Income Tax Treatment of Legal expenses in related to Salary and Wages Tax Treatment of Legal expenses in related to Retiring Allowance How to Determine What’s The Proper Tax Treatment of Legal Expenses? Conclusion 1. How Are Severance Pay Taxed? First of all, to avoid confusion severance pay in our everyday usage means any and all money we received as a result of a loss of employment . According to the government of Canada, severance pay is defined as "money your employer pays you when y...

In this post we tell you all you need to know regarding COVID-19 Rapid Antigen Testing. Topics Will be Covered in This Post: Why You Want to Know More about Rapid Antigen Test? What Is COVID-19 Rapid Antigen Test? What Businesses are Eligible for COVID-19 Rapid Antigen Testing? Can I Obtain a COVID-19 Rapid Antigen Test if My Employer Refused to Participate in the PASP? Conclusion 1. Why You Want to Know More about Rapid Antigen Test? Ontarians need to be fully vaccinated (two doses plus 14 days) and show proof of vaccination, as well as picture ID, to enter specified public settings and facilities beginning September 22, 2021. Click here to see the list of settings and facilities where proof of vaccination is required. In response to that, many businesses mandate their employees to get fully vaccinated or be suspended or terminated. That raises a valid human rights law issue -- whether it violates the Ontario Human Rights Code (HRC) by discriminating against people who...