Income Protection – Tax Relief

Permanent health benefit schemes 

Tax relief is available in regards to premiums paid to a scheme approved by the Revenue Commissioners which provides for periodic payments to an individual in the event of loss or reduction of income resulting from ill health

Does not apply to schemes which provide lump sum payments such as serious illness insurance etc

The amount of the premium is limited to 10% of the individuals total income.

Relief is allowed at higher rate of tax you are paying.

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie