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I-3, r. 1 - Regulation respecting the Taxation Act
Section 1015r19
Disposition versions
1015R19. An employer who makes a lump sum payment described in section 1015R20 must deduct therefrom 14% if the payment does not exceed $5,000 and 19% if the payment exceeds $5,000.
However, no deduction is to made by the employer from the amount of such payment in respect of an employee that the employer transfers directly to a trustee under a deferred profit sharing plan or a registered pension plan, to the issuer, within the meaning of paragraph c of section 905.1 of the Act, of a registered retirement savings plan, to a person licensed or otherwise authorized under the laws of Canada or a province to carry on an annuities business in Canada or to the carrier, within the meaning of paragraph b of section 961.1.5 of the Act, of a registered retirement income fund, where that amount is deductible under any of paragraphs d to f of section 339 of the Act in computing the employee’s income.
1015R19. An employer who makes a lump sum payment described in section 1015R20 must deduct therefrom 15% if the payment does not exceed $5,000 and 20% if the payment exceeds $5,000.
However, no deduction is to made by the employer from the amount of such payment in respect of an employee that the employer transfers directly to a trustee under a deferred profit sharing plan or a registered pension plan, to the issuer, within the meaning of paragraph c of section 905.1 of the Act, of a registered retirement savings plan, to a person licensed or otherwise authorized under the laws of Canada or a province to carry on an annuities business in Canada or to the carrier, within the meaning of paragraph b of section 961.1.5 of the Act, of a registered retirement income fund, where that amount is deductible under any of paragraphs d to f of section 339 of the Act in computing the employee’s income.
1015R19. An employer who makes a lump sum payment described in section 1015R20 must deduct therefrom 16% if the payment does not exceed $5,000 and 20% if the payment exceeds $5,000.
However, no deduction is to made by the employer from the amount of such payment in respect of an employee that the employer transfers directly to a trustee under a deferred profit sharing plan or a registered pension plan, to the issuer, within the meaning of paragraph c of section 905.1 of the Act, of a registered retirement savings plan, to a person licensed or otherwise authorized under the laws of Canada or a province to carry on an annuities business in Canada or to the carrier, within the meaning of paragraph b of section 961.1.5 of the Act, of a registered retirement income fund, where that amount is deductible under any of paragraphs d to f of section 339 of the Act in computing the employee’s income.
