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Home purchase with bonus or lump-sum salary

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Is it the right way to purchase a home using bonus amount or lump-sum salary payment?

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To purchase a home using bonus amount or lump-sum salary payment is totally ineffective as half of the payment is required to be remitted to the CRA to pay for the payroll taxes that will leave you with very limited amount for the purchase of home. Payroll taxes include CPP, EI and the Federal Income Tax which reduce your disposable income. Please call us at 416-900-3826 to discuss your situation.

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