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Changes to the Tax Law

Published on Nov 23, 2015

changes to the tax law

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PRESENTATION OUTLINE

1.

Changes to the Tax Law

Ceding an Income Continuation Benefit
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2.

As from 01 March 2015

  • No tax rebate on premiums paid
  • No tax deducted at claim
  • Life Assured = Owner or employee of a company
3.

Solution?

Ceding the benefit to the Life Assured
4.

Solution

  • Load a Cession on the ICB
  • Adjust the tax at claim
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5.

Servicing

  • Validate the request
  • Log a QC to datafix
  • Check the flag & Policy Schedule
  • Send confirmation to cessionary
6.

Cession Flag

7.

Cession Note on Schedules

8.

Claim Payment

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