N
Naimin Patel
Member
Hi,
I was just reading the notes about taxation and was struggling to understand the reasoning behind one of the rules for a contract to be qualifying:
- Sum assured at least 75% of total premiums paid
I don't see how this is reasonable. Surely if someone was to receive less then it shouldn't be taxed because they've made such a huge loss! Can anyone explain the logic behind this please?
Thanks
I was just reading the notes about taxation and was struggling to understand the reasoning behind one of the rules for a contract to be qualifying:
- Sum assured at least 75% of total premiums paid
I don't see how this is reasonable. Surely if someone was to receive less then it shouldn't be taxed because they've made such a huge loss! Can anyone explain the logic behind this please?
Thanks