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Is a Disability benefit a form of income protection for tax purposes?

Posted 27 January 2014 under Tax Questions



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Some Life insurance policies have a life insurance and a disability benefit. Can the contributions to the disability portion of the policy be tax deductible?

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TaxTimTaxTim says:
28 January 2014 at 10:14

Only "income protection" policies are tax deductible, so if you have a policy which covers you in the event you get injured and cannot not work again or earn income, and that policy replaces that lost income, then you can claim this as a deduction.


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