What’s the purpose of having a 13th month salary?

I just moved to Toronto, Canada. I found my first job and my job pays my salary on a bi-weekly basis. My company offers a 13th month salary. First of all, is the 13th month salary taxed in Toronto? Second, what’s the point of getting a 13th month salary? why can’t I just get my monthly salary paid in full every month rather than wait until the end of the year before my annual base salary is paid up completely? Can anyone please explain it to me?
I will really appreciate it!
thanks

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