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Canada Revenue Agency and Private Health Services Plans (PHSP)
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In 1988, the Canada Revenue Agency under IT-339R2 passed into law the Private Health Services Plan that allows you to expense your health services costs through your company. Before that time, any benefits received by employees were considered a taxable benefit, and taxed at the recipient's top marginal tax rate (in Alberta 39%). Take advantage of a properly set up a PHSP under IT-339 R2, IT-85 R2, & IT-519 R2.
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