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Tax Concessions. Starting from April 2019, retirement savings by way of qualifying deferred annuity policies (“QDAP”) may entitle you to tax deductions. The deduction cap is HKD60,000 per year, which is an aggregate limit for both qualifying deferred annuity premiums and tax deductible MPF voluntary contributions ("TVC").
2024年4月16日 · Your life expectancy is 10 years at retirement. You have an annuity purchased for $40,000 with after-tax money. Annual payments of $4,000 — 10% of your original investment — is non-taxable. You live longer than 10 years. The money you receive beyond that 10-year life expectancy will be taxed as income. Step 1.
the order in which qualifying annuity premiums and TVC are to be allowed. 5. This Departmental Interpretation and Practice Note (DIPN) sets out the Department’s views and practices on the concessionary deductions for qualifying annuity premiums and TVC.
The amendment ordinance provides tax deductions under salaries tax and personal assessment for qualifying annuity premiums and tax deductible MPF voluntary contributions (TVC). The deductions are applicable to a year of assessment commencing on or after 1 April 2019 (i.e. year of assessment 2019/20 onwards).
AIA provides you with valuable tips for tax deduction, including voluntary health insurance schemes, MPF tax-deductible voluntary contributions and deferred annuities. You can also use the Tax Deduction Calculator to further estimate the amount of tax paid and understand how the 3 Tax Deduction Tips can deduct your taxes.
2024年1月5日 · For the avoidance of doubt, the tax deductibility of any qualifying annuity premiums for those existing policies will not be affected. Qualifying Deferred Annuity Policy: Journey Deferred Annuity Plan. Reference. Number: QDAP0017. Name of Insurer: FWD Life Insurance Company (Bermuda) Limited. Date of Certification.
Hang Seng eIncomePro Deferred Annuity Plan (100% Guaranteed) is a QDAP providing stable guaranteed annuity income and life protection; qualifying annuity premiums may apply for tax deduction. Suitable for your retirement planning.
