Saardi v. R., 99 DTC 767, [1999] 4 CTC 2488 (TCC) -- summary under Retiring Allowance

By services, 28 November, 2015

A lump sum of Cdn.$50,000 that the taxpayer received from his former U.S. employer was found to have been received not from his loss of employment but, rather, from the settlement of his claim for amounts due by the employer before his loss of employment. Accordingly, the amount was not a retiring allowance.

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Income Tax Act - s. 248(1) - Retiring Allowance
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