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Tag: Settlement

Taxation Rules for Lump Sum Amounts Received in Lieu of Benefits Coverage

August 17, 2011 · 5 min read

In June, 2011, the Canada Revenue Agency (“CRA”) announced new rules governing lump sum payments made to employees or retirees in lieu of their healthcare coverage. These new rules, which come into effect on January 1, 2012, followed the announcement in the 2011 federal Budget that CRA was re-examining its position on these payments (see…

Tags: Insolvency, Retiree Benefits, Settlement

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