November 10, 2021
Canada's deadline to convert Health and Welfare Trusts to Employee Life and Health Trusts is imminent
The Canada Revenue Agency's (CRA) existing administrative rules with respect to Health and Welfare Trusts (HWTs) are only effective until December 31, 2021. It is important that existing HWTs consider their options to minimize their exposure to adverse tax consequences now.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert