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cessation of employment

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See: lockout


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It is a compulsory provision that results in the individual receiving a lump sum at cessation of employment at any age, whether through the employee's decision or due to redundancy.
The cessation of employment as a result of which the individual is eligible for unemployment compensation; 5.
121-3T(e)(2), includes the involuntary conversion of the residence; natural or manmade disasters or acts of war or terrorism resulting in a casualty to the residence; and, in the case of a qualified individual, death; cessation of employment for which the taxpayer is eligible for unemployment; change in employment that renders the taxpayer unable to pay housing costs; divorce or legal separation; or multiple births resulting from the same pregnancy.
 
 
 
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