What is Tax-Saving Duo?
Voluntary Health Insurance Scheme (VHIS)
Will medical expenses be a financial burden? VHIS offers premium medical coverage for you, helping to share the substantial costs of private hospital stays. You can enjoy tax deductions of up to HKD 8,000 upon successful application1,2.
Qualified Deferred Annuity Policy (QDAP)
Accumulate interest on your annuity payments through compounding. By the time you retire, you can continue to receive monthly income. Additionally, you can enjoy tax deductions of up to HKD 60,000 upon successful application1,3.
Eligible for Tax Deductions
Insurance companies must meet specific conditions to launch VHIS or QDAP, both of which have been certified by Health Bureau or the Insurance Authority. Therefore, taxpayers who purchase these products can enjoy tax deduction benefits under salaries tax & personal income tax based on the eligible premiums they have paid1.
Tax-Saving Tips1
2024/25 Taxable Year | VHIS | QDAP |
Tax Deductions – Maximum Limits | ||
Tax Deductions – Maximum Limits | (Per Insured) HKD 8,0002 | (Per Taxpayer) HKD 60,0003 |
Tax Savings – Maximum Limits*,1 *Calculated by the highest salaries tax marginal tax rate of 17%. | ||
Tax Savings – Maximum Limits*,1 *Calculated by the highest salaries tax marginal tax rate of 17%. | (Per Insured) HKD 1,360 | (Per Taxpayer) HKD 10,200 |
Unlimited insurance policies for tax deduction applications? | ||
Unlimited insurance policies for tax deduction applications? | ✅ In addition to insuring yourself, you can also apply for tax deductions on premiums for specified relatives*: your spouse, children, siblings of you or your spouse, parents, or grandparents . There is no limit on the number of policies that can be claimed by a taxpayer. *Specified relatives are defined under Inland Revenue Ordinance (Chapter 112). | ❌ |
Why not NOW?
Why choose AXA's tax deductible plans?
IncomeBliss Deferred Annuity Plan
AXA WiseGuard Pro Medical Insurance Plan
9 hours of hustle, 1 hour to taxes14?
It’s time to pay taxes again! Try out AXA’s TaxBliss Calculator now and understand more how our tax deductible solutions can help you save every single cent!
How to maximize the benefits of Tax-Saving Duo?
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