in Wikipedia, many companies offer a competitive package, and it is still a strategy to recruit and retain workers. These packages include a competitive group insurance plans for individual retirement accounts or plans of the traditional social security, etc. In this article we discuss the benefits, survivors benefits and tax insurance group.

1st Of benefits for employers and employees

) Benefits of coverage such as dental care, insurance, medical, life and disability of workers and their families. Access
b) Immediate insurance against loss is less than what is available.
c) The fee may be deducted from
d) increase the likelihood of staff retention.
e) to enhance the motivation and loyalty. Group Benefits

sure that does not discriminate between employees, but on a different schedule for the different classes of workers. Therefore, different amounts of insurance may be carried out in accordance with the different levels of income and employment position in the company.

often in favor of life will be one, two or three times the salary. The contract usually limit the evidence and the maximum amount that the insurance company will issue.

2nd Survivors' benefits

usually contract with a survival benefit of 25% or more of the salary of the deceased workers, and the percentage of the premium for each dependent child. Remarriage of the surviving spouse generally eliminates the benefits.

3rd Taxation

a) employer's contribution deductible business expense and
b) The employee receives them, as the profit tax and employee contributions are not deductible.

I hope this information helps. If you need more information, please read the whole series of topics that my home page:

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Please note that the information contained herein is not legal advice and is intended for educational and information purposes (and the current date it was written). If you need legal advice in relation to tax matters, seek professional help.

So you have a Canadian company, and want to be with his spouse and interest-free loan? What could go wrong, you say? Well, the tax consequences are not worth it.

First of all, s. 15 (2) Canada Income Tax Act provides that if a person is connected to the partner firm and the firm receives a loan, the loan amount should also include the income of that person of the year (and thus the price will be paid on it). Here the word is defined, and on 15 (2.1), that the people among whom the shareholder does not deal at length with the weapons (including spouse). What about the

interest-free loan, you say? Well, s.80.4 (2), the spouses need to add the amount of interest that would have been paid on the income (and thus pay tax on it): Again, if someone is related to a shareholder of the company (ie, including the spouse) and get a loan to the company, then that person shall be deemed to have received taxable income (ie, you must pay the tax) equal to the difference between the interest paid during the year and the interest that would have had to pay for the year course (ie, the prescribed fee).

global, so the shareholders of the company, which is the spouse of an interest-free loan can be more harm than good: and in the interest of the spouses to be included in the income-tax purposes.

Do not forget, however, that other provisions of the Income Tax Act of Canada to amend the sections, or do not care, but it really depends on the situation. An example of how to deal with the company to repay the loan within a year. 15. § (2.6) of the Canadian Income Tax Act provides that where a corporate loan to the spouse, the spouse is repaid within 1 year of the fiscal year-end (the lender / discovered the value of loans), you will not be included in the foreign and the spouse (and, therefore, no tax would be payable). Thus, the spouse should be included in the loan amount and the income tax, because the loan is repaid within 1 year before the end of the financial year of business. To better understand the situation, the following example. At the end of the year, companies and August 31. The spouse of a shareholder loan of december 31, 2008. The clock does not start scoring until August 31, 2009, and the spouse is payable August 31, 2011, to prevent the inclusion in tax returns.

the Canada Revenue Agency Interpretation Bulletin (IT-119R4) in loans from shareholders help to explain what is meant by the number of loans or other transactions and repayments (found at the end of 15 (2.6): 28 This is a fact that a loan repayment of part of a series of loans or other transactions and repayments. In most cases, only when certain loans or other transactions and repayments within one year of the tax value is not such a place. However, when only a loan or other transaction and refund any phenomenon in the fiscal year amount to a series of loans or other transactions and repayments continue to be evidence. This can occur, for example, when the temporary loan of the loan is repaid immediately prior to the end of the year, and the same amount, or about the same amount shortly after the end of the year. return of a temporary nature, can not be considered to reduce the loan balance to apply Subsection 15 (2) 20 (1) (j) a series of loans or other transactions and repayments.

Therefore, if the spouse is taking investors on corporate credit and repay the amount before the end of the year (eg August 31), and not long after location close to the same amount was paid before the end of the year, the economy, the Canada Revenue Agency may consider a series of operations such as loans and other transactions and repayments – your spouse will be to include the amount of income under s. 15 (2).

Remember, if you need the tax and / or business consultancy, seek professional help.

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