Formula for calculating VHIS Tax Deduction
VHIS Premiums x Tax Rate = Tax Deduction Amount
VHIS Tax Deduction Limit
Every taxpayer who purchases a recognized VHIS for themselves or their eligible dependents can include the premium payments as part of their "Salaries Tax Deduction" for tax purposes. The maximum deductible premium per insured person (either oneself or an eligible dependent) in each tax year is HK$8,000.
Eligible dependents include:
- Spouse¹
- Children²
- Under 18 years old
- 18-25 years old and receiving full-time education
- 18 years old or above, but unable to work due to physical or mental problems
- Siblings²
- Under 18 years old
- 18-25 years old and receiving full-time education
- 18 years old or above, but unable to work due to physical or mental problems
- Parents / grandparents / great-grandparents²
- Under 55 years old, but eligible for government disability allowance
- 55 years old or above
Easily obtain your payment record document:
The payment record for your Voluntary Health Insurance Scheme (VHIS) policy over the past year has been automatically uploaded to the Bowtie online platform. This record can be used directly as official proof for tax deduction purposes.
How to view it:
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Log in to your Bowtie online platform
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Open your Voluntary Health Insurance Scheme policy and click "Payments"
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Under "Annual Payment Record," download the PDF certificate for the required year
¹Limited to individual income tax payers
²Applicable to adoption and fostering relationships. For details, please refer to the Inland Revenue Ordinance (Chapter 112).
Note: To apply for tax deductions, the insured person must be a Hong Kong resident, including Hong Kong identity card holders, non-Hong Kong identity card holders, and those under 11 years old who were born or adopted by Hong Kong identity card holders. For details, please refer to the Inland Revenue Ordinance (Chapter 112).