Is my business eligible for a Health Spending Account in Canada?

If you have a business operating in Canada that employs at least one, salaried employee (i.e. T4 income) who is un-related to you, your business is immediately eligible for a Kibono Health Spending Account. Kibono strongly recommends checking your eligibility with your accountant before self-sign up. Contact us today and we would be happy to help assess your situation.

If you have an incorporated business but you or your family members are the only employees, your eligibility must be manually assessed by your accountant. This situation is unclear as described in the following excerpt of the Canadian Income Tax Act.The CRA has given mixed commentary over the years. Based upon our interpretation of the commentary, we do believe that shareholder only corporations are eligible, however, it’s important you get independent tax advice and abide within strict guidelines.

Contact us today and we would be happy to help assess your situation.