If i received pay in lieu of notice from employment standards for a job I was laid off from last year, where would i input that amount into my online return?
If i received pay in lieu of notice from employment standards for a job I was laid off from last year, where would i input that amount into my online return?
If i received pay in lieu of notice from employment standards for a job I was laid off from last year, where would i input that amount into my online return?
The payment received in lieu of notice should be treated as any other employment income and be reported as such. You would pay income tax like you would on regular employment income. The usual income tax deductions apply, including CPP or QPP contributions, EI premiums, and RPP contributions. These payments are also known as severance packages; to know more about them here is alinkto an article by the Government of Canada.
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