16 Aug Income Protection Tax Rebate
If you have income cover you may be able to claim a percentage of your annual premium back. In fact, some of our clients have been able to claim it back for the three previous years!
Your insurance provider will have sent out a GST invoice after 31 March this year and that will have the amount of your premium on it.
There are two types of income protection insurance, agreed value and indemnity, if you have indemnity insurance you may be able to claim a portion back.
It’s likely that the wording of your insurance policy won’t use those exact words – if you’re not sure, check with your insurance provider or send us an email on contact@stratusnz.nz and we’ll help you figure it out. We won’t be able to provide you with tax advice but we’re happy to help with any financial advice you may need.
For more details on this rebate, the Inland Revenue have some information on their website here, and you can contact them through their webpage here.
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