Employee Life and Health Trusts

Print Version

Introduction
On February 26, 2010, the Department of Finance released proposed amendments to the Income Tax Act (Canada) (the ITA). The proposed amendments provide for a new type of employee benefit trust, to be known as an "employee life and health trust" (ELHT). Along with the press release, the Department of Finance released the text of the draft legislative amendments, a more detailed backgrounder and explanatory notes. The proposed amendments apply to trusts established after 2009.