What is Flexsave™?
Flexsave™ is a Revenue Canada approved plan (IT85 R2) that allows self-employed individuals and Corporations to tax-deduct their health and dental expenses in a tax-effective and cost-efficient manner. It is designed to provide employees with a tax free benefit for medical expenses they incur, paid for by their employer. That employer is permitted to deduct the full amount as an operating expense. Flexsave™ is a Health and Welfare Trust (HWT) that was formed with strict adherence to the guidelines set forth in Revenue Canada Agencies (CRA) Income Tax Bulletin – IT 339 R2. The Flexsave™ HWT was formed 15 years ago and is a plan that adheres to the CRA Guidelines of both IT 339 R2, and IT 85 R2.
