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MEMBERSHIP
BENEFITS
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- 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).
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TAX
SAVINGS
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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 |
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