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Is there a tax deduction for spousal insurance?

Posted 15 July 2013 under Tax Q&A


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On my payslip there is a deduction for Spouse insurance.If my spouse dies, I get money from my employer to help. think its twice my annual salary.Are there any tax benefits for this?

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TaxTim TaxTim says:
15 July 2013 at 13:15

Unfortunately there are no deductions for life insurance. SARS are looking at making this a taxable deduction in the future however, but nothing for now.


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235 DAYS
LEFT OF
TAX SEASON
2017


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started