CRA warns about health spending accounts

CRA warns about health spending accounts

#CRA focusing on, and warning about health spending accounts. "If the business is a sole proprietorship with no arm’s-length employees, the CRA does not consider an HSA to be a private health services plan and any costs incurred f…https://t.co/dqeeZ9Rsqv https://t.co/vwOA6VZYiB

— Joseph Devaney (@videotax) April 18, 2019

CRA Warning: Buyer beware when it comes to Health Spending Accounts

The Canada Revenue Agency (CRA) is always on the lookout for tax schemes and opportunities to warn Canadians about them. Lately, the CRA has noticed several businesses improperly claiming deductions related to Health Spending Accounts (HSA), and it wants to alert potential participants about this scheme.

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