Is it tax deductible?

  • Updated

If you have purchased VHIS for yourself or your relatives, you may enjoy tax deduction under salaries tax and personal assessment. The maximum premium that a taxpayer can claim for deduction is up to $8,000 per insured person in each assessment year.


Tips from Bowtie: you are only eligible for tax deduction when you purchased VHIS for specified relatives, including your spouse and children, and spouse's grandparents, parents and siblings. Please check carefully when you apply for deduction! Click to learn more.


If you wish to know more about the tax deduction, we suggest seeking advice from professionals or checking out more information from IRD.