Group health benefit plans provide employees with tax efficient compensation, however the Federal Government is considering taxing employer contributions made to such plans.
While the Government has not yet confirmed its intentions to proceed with the measure, and full details have yet to emerge. If the new tax is introduced in the upcoming 2017 Federal Budget, the premiums paid by employers would cease to be exempt from federal taxation costing Canadians billions of dollars.
This measure would harm millions of working, middle-class and lower income Canadians and their families who rely on these plans to sustain their health. Private benefit plans cover nearly $30 billion annually in healthcare costs for up to 22 million Canadians and their families (accounting for nearly a third of health-related spending nationally).
The following changes could have direct and indirect costs for:
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