Do I have to pay taxes on a life insurance policy?

Friday 12 June 2020, 1:14PM
By Pinnacle Life NZ

Income tax is due on 7 July. These days you often don't need to do anything as the IRD will do an automatic assessment but if you do need to complete a return, best you get onto it!

There are two things to know about when it comes to tax and life insurance:

Do I have to pay tax on a Life Insurance claim payout? and
Do I pay tax on my premiums?

You can learn more about both these questions on our blog