When an employee is retiring, laid off, or let go, it is important that you know your tax obligations.
The Canada Revenue Agency (CRA) is committed to ensuring businesses have the knowledge they need to make retiring allowances as simple as possible. To this end, we are hosting a free webinar to help businesses understand what retiring allowances are, and how they work.
This webinar will discuss:
- What is a retiring allowance
- What is not a retiring allowance
- How retiring allowances are processed
- How an employer can transfer part of the entire retiring allowance to their employee’s RRSP or RRP
- What you as an employer must do when providing a retiring allowance, including payroll and deductions
Register for the webinar
You should register for this webinar if you’re:
- An employer paying or about to pay an employee: who is retiring, laid off or their employment position is eliminated
- Interested in the different ways one can manage a retiring allowance
The webinar is on Wednesday March 2, 2022 at the following times:
| Newfoundland Standard Time | Atlantic Standard Time | Eastern Standard Time | Central Standard Time | Mountain Standard Time | Pacific Standard Time | |
| English | 2:30pm | 2pm | 1pm | 12pm | 11am | 10am |
| French | 11:30am | 11am | 10am
|
9am | 8am | 7am |
Mark your calendars
We invite you to submit your questions about Retiring Allowances before the webinar takes place. To do so, please visit the registration website, register for the webinar in the language of your choice and then submit any questions you have during the registration process. We’ll answer as many questions as we can during the webinar.
Need more information?
The CRA has a number of resources available to help individuals and businesses understand their tax obligations. For more information, visit withholding and reporting requirements (Canada.ca).
You can also watch previous recorded webinars for businesses in our businesses video gallery on Canada.ca.
Stay connected
To receive updates on what is new at the Canada Revenue Agency (CRA), you can:
- Like the CRA on Facebook
- Follow the CRA on Twitter – @CanRevAgency.
- Follow the CRA on LinkedIn.