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Severance pay

Severance pay is a monetary entitlement (compensation) that is intended to provide financial support to ease your transition from one place of work to another. Severance pay is an amount paid based on length of service that is payable to an employee upon termination of employment. Severance pay is considered retiring allowance under the federal ITA and is not subject to EHT.

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9th September 2014, 11:00 AM

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