|
MEMBERSHIP BENEFITS
|
- Membership
in CSPG automatically enrolls you in the Private Health Services Plan.
You can start taking advantage of these TAX SAVINGS today!
- Plus,
enrollment fees for this insured plan are waived as a benefit of
belonging to CSPG. (Value =
$250 set-up and $120 annual fee for a total savings of $370.)
- Collect
all health and dental care receipts and submit with claim form and
corporate cheque to the PHSP.
- Deduct
100% as a corporate business expense.
- Receive
a tax-free electronic transfer of funds to your personal bank acount
(or cheque if you prefer).
|
|
|
TAX SAVINGS
|
The
Private Health Services Plan is set up under Revenue Canada's
guidelines. It allows 100% of all health / vision and dental care
expenses to be treated as ordinary business expenses and reimbursed to
you personally, completely tax free. Yes, you can pay with before-tax
dollars.
| Example: |
$1000 |
crowns / orthodontics / laser eye surgery /
cosmetic surgery |
| Now paying: |
$1000 |
plus personal tax rate at 40% = $1666 - your total
cost personally |
| Using PHSP: |
$1000 |
6% PHSP fee = 1065 (includes a $5.00 fee for
handling & accounting) |
| TAX SAVINGS (GROSS) to you - $601 |
|
|
