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How Cost Plus works -
A Diagram
This program
has been designed as a value added benefit, offered to corporate
clients. “Cost Plus” is an innovative way to tax-deduct
money spent on all healthcare and dental services.
It can be used on its own or in combination with existing
group insurance coverage.
Who
Qualifies?
Under
Canada Customs and Revenue Agency (CCRA) rules and regulations,
Corporations and Self-Employed Individuals, (both non-incorporated
sole proprietors and partnerships) qualify under specific
guidelines.
Corporations are able to deduct all qualified payments for
the benefit of its employees.
There
is no limit to the amount a corporation can deduct in any
given year for benefit payments. Corporations are required
to utilize a third party to adjudicate for accuracy and compliance
with CCRA guidelines. We will provide the adjudication service
for each item claimed and the 10% fee is set to cover the
cost of this adjudication, processing, and issuing the cheque.
As there is a $25 minimum charge, we suggest waiting until
at least $250 in receipts have been accumulated. There is
no obligation to use the plan and you can stop at any time
at no cost to you.
Canada
Customs & Revenue Agency 'CCRA' requires an element of
risk component for unincorporated and self-employed individuals.
At this time, the program does not offer any element of risk
and thus unincorporated and self-employed individuals do not
qualify for the program.
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