Private Health Services Plan
A Private Health Services Plan (PHSP) is a legislated option for businesses under the Income Tax Act and is a fully tax-deductible plan through which businesses are able to provide health, dental and peripheral health benefits to their employees, employees’ families and themselves.
In addition to the PHSPs being fully tax-deductible for businesses, they are fully tax free in the hands of the employees. Employers have the flexibility of setting up their PHSP exactly how they want.
The Canada Revenue Agency (CRA) has specified that in order for businesses to qualify for these tax deductions, PHSPs must be administered by a third-party, arms-length provider. Zudura Inc., operating as Zudura Healthprovides this service exclusively to Canadian businesses.
Let Zudura Health demonstrate how a PHSP can benefit your business.