Income Tax Query

[dgeralds]

My query is on "Life Insurance" under "Deductions, Reliefs and Parenthood Tax Rebate"

My CPF contribution is more than $5000, so I cannot claim relief for Life Insurance. But can I claim Life Insurance relief since I pay Life Insurance for my wife? By the way she is not working. Thank you.



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Below is extracted from IRAS

"If your CPF contributions are $5,000 or more, no deduction will be allowed for any life insurance premiums paid. Where the CPF contributions are less than $5,000, the total amount of relief allowable for CPF and life insurance premiums shall not exceed $5,000."

"For married men

If you have paid for your wife’s life insurance policy, you may also claim the insurance premiums paid."

 

[reddevil0728]

My query is on "Life Insurance" under "Deductions, Reliefs and Parenthood Tax Rebate"

My CPF contribution is more than $5000, so I cannot claim relief for Life Insurance. But can I claim Life Insurance relief since I pay Life Insurance for my wife? By the way she is not working. Thank you.



****************************************************

Below is extracted from IRAS

"If your CPF contributions are $5,000 or more, no deduction will be allowed for any life insurance premiums paid. Where the CPF contributions are less than $5,000, the total amount of relief allowable for CPF and life insurance premiums shall not exceed $5,000."

"For married men

If you have paid for your wife’s life insurance policy, you may also claim the insurance premiums paid."

as per what's stated in the website which you have already quoted.

tbh if you really want to confirm beyond a shadow of doubt, confirming here is meaningless as what people say here has no effect on IRAS.

If you want confirmation use the chat function on IRAS website or write to IRAS to get a black and white. that way at least you got black and white from the authority who will determine whether you did it right or wrong

 

[dgeralds]

as per what's stated in the website which you have already quoted.

tbh if you really want to confirm beyond a shadow of doubt, confirming here is meaningless as what people say here has no effect on IRAS.

If you want confirmation use the chat function on IRAS website or write to IRAS to get a black and white. that way at least you got black and white from the authority who will determine whether you did it right or wrong

Thank you. You are right. I quickly sent an email.

 

[luvpraline]

Thank you. You are right. I quickly sent an email.

Can pls update us on this if iras replies u?

 

[reddevil0728]

Can pls update us on this if iras replies u?

you should get your own confirmation if u want it to be beyond shadow of doubt