A Statistics Canada study that was conducted in 2008 revealed that the average Canadian household is spending more than ,000 per year on various healthcare services such as prescription medications, dental products and services and eye-related products such as glasses and contact lenses.
Regardless of whether they are sole proprietors or they are part of a larger incorporated business, many people are surprised to find out that that have the ability to make the majority of their healthcare expenses fully deductible. This is an exciting prospect for them because it can provide many significant tax savings for the business, offer excellent tax-free benefits to business owners, dependents and employees – all of which will help you control your medical costs and save money.
