TAX QUESTIONS? YOU ASK LAH!

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Q: The annual premium for my child’s education insurance paid by both my husband and myself is RM5,000. As my husband is the policyholder, he has claimed a maximum of RM4,000 for child’s education insurance tax relief. Am I eligible to claim the remaining balance of RM1,000 ?

A: No. Education insurance relief is claimable based on the name of the policyholder, not the amount contributed by each party. If you are not the policyholder, you are not eligible to claim the relief.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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