Canada Employment and Immigration Union -
March 8, 2011

Income tax implications for cashing out severance pay

Members considering a cash out of their severance pay under the revised PA collective agreement will want to carefully consider the tax implications of this decision.

The PSAC has provided information on the tax implications of taking the cash out as well as related information on the changes to severance pay provisions, and members are urged to review this material carefully before making their decision.

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