PHSP

Government definition

Allows small companies to pay for health costs of the employees.  Needs a broker. (Actually reading the Government definition again makes me think that a broker is optional -- see subsection 7). For example: Brock Health, they charge a one-time 100$ (tax deduct).  Plus 5% for every health claim.  So if I had a 1000$ dental expense, then my company sends a cheque of $1050.- to the broker, who send a $1000 cheque back to me to cover my expense.  This is a big savings due to the lower tax-rate of the company.

Why did my accountant not tell us about this!!!

Print | posted on Tuesday, January 01, 2008 11:35 AM
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