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Is Benefit in Kind on health insurance really that low?

  • 14-08-2019 2:40pm
    #1
    Registered Users, Registered Users 2 Posts: 333 ✭✭


    Mr. Lemon earns €37,000 per anum and makes pension contribution (15% max for his age).

    His company pays his health insurance subscription.

    He did a calculation on www.deloitte.ie/tc to see how much he’d be earning if his employer wasn’t paying for his insurance.

    According to the calculation, he’d only be €113 better off. He’s hardly only paying €113 tax on a policy worth €1,100 is he?

    He’s terrified he’s underpaying and he’ll be stung for a huge pack tax bill at the end of FY19.
    :confused:


Comments

  • Posts: 0 [Deleted User]


    It is taxed just like normal income, but then there is tax relief on it.

    Maybe he has this relief on his Tax Credits


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