Quote:
Originally Posted by ken0042
Keep in mind, that you will still pay the same amount in taxes either way. Lump sum payment will result in more taxes coming off right away, but at the end of the year when you do your return you'll get the extra back.
However; if you are on bi-weekly payments, and you find another job in 2 weeks time, you will actually be under paying your taxes, and will end up owing more at the end of the year.
Not sure if you have an option in either case; just wanted to make sure you are aware.
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Also if you are considering applying for UIC or whatever its called this day, you may not be eligible until your biweekly cheques run out. I might be wrong, but maybe worth considering or checking out in a just in case sense.