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Is it within the law for a larger company to pay last year vacations at almost the end of the next year?

It would depend on a number of factors, including if there is a contract of employment and/or an agreement between the parties concerning this, but generally speaking there is nothing wrong with the employer paying the vacation pay the following year as long as the amount provided is accurate.
Lior Samfiru
Direct Tel (Toll Free): 1-855-821-5900     Email: lior@stlawyers.ca     Web: www.stlawyers.ca
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