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“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

DAN ALBAS – Should employers be able to help an employee pay off a student loan, and have that help be a non-taxable benefit to the employee?


 

Today, I rose to present my Private Members Bill that would allow employers to voluntarily help an employee pay off their student loan as part of their total remuneration, tax free.

 

Currently, if an employer wanted to help an employee pay off their student loans, either with a bonus or part of their salary, that would be taxed as regular income.

 

This bill would allow employers and employees to enter voluntary arrangements where payments made by an employer to an employee pursuant to a student loan assistance program would be a non-taxable benefit. 

 

Young people tell me all the time that graduating with thousands of dollars in student loans is a massive barrier to them planning for the future. 

 

This bill will help support people struggling with student loans by incentivizing them to work and save.

 

This legislation will also help employers attract talented workers and keep them. 

 

This bill is a win-win across the board, and I hope attracts widespread support in Parliament.

 

What do you think? 

 

“Should employers be able to help an employee pay off a student loan, and have that help be a non-taxable benefit to the employee?”

 

I can be reached at:
Email: Dan.Albas@parl.gc.ca

Toll Free: 1.800.665.8711

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