A year-end bonus is taxed at the same rate as if you had received salary. Most of the time a bonus cheque is much higher than that of a regular paycheque. If that is the case your bonus cheque will have a higher amount of deductions taken off your pay.
So your bonus cheque will have far less deductions. Be careful to note that if you receive this bonus cheque in January 2010 it will count as 2010 income. Your RRSP contribution in January will figure in your 2009 taxes as the deadline for 2009 RRSP is March 1, 2010.
