Every year you'll have $5,000 CAD to allocate into four categories based on how you think you'll use the dollar amount for the year:
A Health Care Spending Account (HCSA) is like a bank account through which you may be reimbursed for health and dental expenses up to a predetermined annual credit amount. These credits may be used to cover expenses not covered by our group health plans or to top-up expenses not fully covered by group health plans, including deductibles and co-payment amounts. This is a non-taxable account (except in the province of Quebec).
There is a range of medical products and services expenses not normally covered by group benefits plans or provincial health plans. A Health Care Spending Account (HCSA), offers you a way to have costs for these products and services covered and leaves more take-home pay in your pockets. Click here to see the list of allowable expenses on the CRA website.
The Lifestyle Spending Account covers broad areas we believe in, a few examples being; helping you and your family get and/or stay healthy and active, offering family care and support to all family types (partners/spouses, children, aging parents, pets), and supporting our own entrepreneurs.
We've partnered with League, an online marketplace of vendors that allows you to create a personal and localised perks portfolio. Through their platform, you’ll see vendors in your area along with their ratings. You can book services through the app, chat with the vendor and pay directly from your digital wallet. Easy peasy! League will also continue to expand their offering to other vendors and products.
View all of the eligible expenses here.
Saving for the future is important and something that many of us are thinking about. You will be able to allocate money towards an RRSP through our group program with Sun Life. But that’s not all! You can also direct additional funds from your paycheque into this RRSP.
If you choose to direct money towards the group RRSP plan income tax is offset by the contribution however it is still subject to CPP and EI deductions. The RRSP Funds will be deposited in your Sun Life account each pay period throughout the year to ensure your pay is not impacted by the deductions just mentioned.
One key element of our culture that we wanted to fully realise in our flexible perk program is our high sense of care. We are a community of people that care for the well-being of those around us, be they in our local neighbourhood or causes with a more global scope. So, we’ve made charitable giving an explicit component of our perks package. League will also be our go-to for delivering this category, offering the giving component through their partnership with Benevity, a giving platform.
Shopify is also establishing a Community Fund that will grow as Shopifolk give back. If you donate through the charitable giving account, Shopify will contribute dollar for dollar to a Community Fund to a maximum of $1000 per employee with an overall cap of $500,000 for 2018. Our Community Development team will take those funds annually and distribute them to organizations in each of the Canadian cities we operate in.