The Best Kept Secret...

How are you paying for your services at Electra Health Floor? If you are paying out-of-pocket, and if you are self-employed or a business owner, you need to know that there's a better way!

A tax-smart way to pay for your healthcare

The best kept secret in the Income Tax Act is for business owners and self-employed individuals to set up a Health and Welfare Trust (HWT) to pay for their and their family's healthcare costs.

HWTs are CRA-approved plans that allow you to deduct 100% of your healthcare expenses against business income. These expenses include massage therapy, chiropractic care, acupuncture, naturopathic treatments, etc. Virtually all healthcare and dental expenses qualify.

Easy-to-use Trust for healthcare

Simply put, a business owner sets up a trust to pay for wellness and dental care. CRA's 2002 Business and Professional Income Guide states that funds deposited into a HWT have to be paid into a trust account administered by an independent trustee specializing in managing these trusts.

AVP Financial are specialists in the Health and Welfare Trust business. They provide a low-cost set-up and administration of BizFlex (the Trust), and simple accessible reporting. Visit www.bizflex.ca for complete details or contact Victor Login at victor@bizflex.ca This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or 604 - 731-3717.

Note that services already paid for in 2008 may still qualify. Call today to confirm.