Insurance Premium Tax Act -- Approved Plan Regulation

B.C. Reg. 143/2005
O.C. 249/2005

Deposited March 18, 2005
effective January 1, 1997

This archived regulation consolidation is current to April 1, 2005 and includes changes enacted and in force by that date. For the most current information, click here.

Insurance Premium Tax Act

APPROVED PLAN REGULATION

Approved medical services and health care plans

1 For the purposes of the definition of "taxable premium" in section 1 of the Insurance Premium Tax Act, a medical services or health care plan that meets the following criteria is approved:

(a) the plan is established and managed by an insurance company or an extraprovincial insurance corporation that

(i) is authorized to carry on insurance business under the Financial Institutions Act, and

(ii) is a non-profit corporation;

(b) the plan provides for the payment of benefits directly to one or more of the following:

(i) a person entitled to practice a designated health profession under the Health Professions Act;

(ii) a chiropractor entitled to practice under the Chiropractors Act;

(iii) a dentist entitled to practice under the Dentists Act;

(iv) a medical practitioner;

(v) a registered nurse entitled to practice under the Nurses (Registered) Act;

(vi) an optometrist entitled to practice under the Optometrists Act;

(vii) a podiatrist entitled to practice under the Podiatrists Act.

Note: this regulation repeals B.C. Reg. 89/58.

[Provisions relevant to the enactment of this regulation: Insurance Premium Tax Act, R.S.B.C. 1996, c. 232, sections 1 and 41; Taxation Statutes Amendment Act, 2005, S.B.C. 2005, c. 16, section 49]