Growing Wealth for a Better Retirement
To craft a brilliant and worry-free retirement, you need the right tool to plan ahead and build your fruitful retirement reserves.
Tahoe Life’s Shining Years Deferred Annuity Plan1 (the “Plan”) is a Qualifying Deferred Annuity Policy (“QDAP”) certified by the Insurance Authority#, not only allowing you to apply for tax deduction##, but also giving you steady monthly annuity payment2 during the annuity period and protections against unfortunate events.
# The Insurance Authority certification of QDAP is not a recommendation or endorsement of the Plan nor does it guarantee the commercial merits of the Plan or its performance. It does not mean the Plan is suitable for all policyowners nor is it an endorsement of its suitability for any particular policyowner or class of policyowner. The Plan has been certified by the Insurance Authority but such certification does not imply official recommendation. The Insurance Authority does not take any responsibility for the contents of the product brochure of the Plan, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the product brochure of the Plan.
## Please note that the QDAP status of the Plan does not necessarily mean you are eligible for tax deduction available for QDAP premiums paid. The Plan’s QDAP status is based on the features of the product as well as certification by the Insurance Authority and not the facts of your own situation. You must also meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of Hong Kong Special Administrative Region (“IRD HKSAR”) before you can claim these tax deductions. The actual tax benefits of this policy would depend on your personal tax position and there might not be tax deductions benefits if you are not subject to salaries tax or personal assessment in the relevant year of assessment.
Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. You should always consult with a professional tax advisor if you have any doubts. Please note that the tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. We do not take any responsibility to inform you about any changes in the laws and regulations or interpretations, and how they may affect you. Further information on tax concessions applicable to QDAP may be found at www.ia.org.hk/en/.