Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

Q: If a company buys insurance for staff, the policy owner is the staff and the beneficiary is his family member. Is the premium paid by the company tax deductible?

A: Tax deduction is not allowed because the insurance is the staff's personal insurance policy. But if the company includes the premium paid into the staff's EA form as his remuneration, then the company can claim tax deduction for the premium paid.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

Subscribe To Our Newsletter To Get Weekly Dose of Tax Knowledge!

We respect your email privacy

Home     Useful Articles     About Us     Contact Us     Site Map

Copyright 2024    YYC HOLDINGS SDN BHD 201501018259 (1143591-H)    All rights reserved.

YYC New Logo White Text