Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


tax rebate on foreign country insurance premium payment



While residing in New Zealand, my wife and I (both South Africans), took out a life insurance policy each with AIA New Zealand. We have returned to SA and pay the policy premiums annually Paid through my bank, Nedbank, Foreign Exchange. This years premiums totalled r22 000. Premiums increase annually due to the exchange rate. I would like to know whether I can claim a rebate from ZARS when I submit my tax return to ZARS.?

TaxTim TaxTim says:
22 July 2014 at 13:28

These are life policy in the event of death? If so then unfortunately these are not deductible under South African law against income.

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.




Submit your tax return right here!

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

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.