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- Title
Amendments to Income Tax Act Permit First Prefunded Health and Welfare Plans in Canada.
- Authors
Tomassini, Roberto
- Abstract
The article reports on the proposed amendments to the Income Tax Act (ITA) in Canada that would allow the establishment of the employee life and health trust (ELHT), a vehicle for the delivery of health and welfare benefits. ELHT, which is similar to voluntary employees' beneficiary associations (VEBAs) in the U.S., allows employers to avail of prefund benefits while allowing but not requiring employee contribution. The Canadian Department of Finance will apply the ELHTs to trusts set up after 2009.
- Subjects
CANADA; LEGISLATIVE amendments; INCOME tax laws; TRUSTS &; trustees; VOLUNTARY employees' beneficiary associations; CANADA. Dept. of Finance
- Publication
Canadian Benefits & Compensation Digest, 2010, Vol 28, Issue 3, p3
- ISSN
1552-4744
- Publication type
Article