{"id":29,"date":"2015-03-25T17:55:06","date_gmt":"2015-03-25T15:55:06","guid":{"rendered":"http:\/\/audenbergbrokers.co.za\/newsletter\/?p=29"},"modified":"2015-03-25T17:55:06","modified_gmt":"2015-03-25T15:55:06","slug":"income-protection-tax-changes","status":"publish","type":"post","link":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm","title":{"rendered":"Income Protection : Tax Changes"},"content":{"rendered":"<p><strong>Impact of tax changes on income protection policies<\/strong><br \/>\nRecent changes to the Income Tax Act mean that, with effect <strong>from 1 March 2015<\/strong>, income protection<strong> premiums will no longer be tax-deductible<\/strong>. Importantly, income protection benefits will also no longer be taxed. This means your level of cover will effectively increase by the amount of tax previously payable on these benefits.<br \/>\n<strong>What do these changes mean for income protection policies?<\/strong><br \/>\nWhile tax deductibility of premiums may have been lost, we believe income protection benefits have been enhanced by these changes:<br \/>\n\u2022 Consistent tax treatment across life insurance benefits means financial planning is simpler<br \/>\n\u2022 Insuring only after-tax income means comprehensive income protection is more affordable<br \/>\nIf you haven\u2019t previously covered your full income, now\u2019s the time! After all, <strong>your ability to earn an income is your most important asset<\/strong> and we\u2019d like to make sure you\u2019re fully covered.<br \/>\nPlease note that, from <strong>1 March 2015<\/strong>, tax certificates will no longer be issued for premiums and tax will no longer be deducted or payable on any income protection claims paid.<br \/>\n<strong>What\u2019s the next step?<\/strong><br \/>\nIf you\u2019ve already insured 100% of your income, you might find yourself\u00a0over-insured and should contact us to understand the impact of changes on your own unique situation. We have contracts with all the major Insurers and can assist you to make sure that you are not over insured and thus pay more than you should. If you are over insured you will not receive the insured amount when you have a claim. It will be restricted to the maximum allowable amount according to your income. So, why pay more, if your income is going to be restricted when you have a claim.<\/p>\n<p>We would love to hear your comments on these changes, so leave us a note and say what is on your mind.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Impact of tax changes on income protection policies Recent changes to the Income Tax Act mean that, with effect from 1 March 2015, income protection premiums will no longer be tax-deductible. Importantly, income protection benefits will also no longer be taxed. This means your level of cover will effectively increase by the amount of tax&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Income Protection : Tax Changes - Audenberg News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Protection : Tax Changes - Audenberg News\" \/>\n<meta property=\"og:description\" content=\"Impact of tax changes on income protection policies Recent changes to the Income Tax Act mean that, with effect from 1 March 2015, income protection premiums will no longer be tax-deductible. Importantly, income protection benefits will also no longer be taxed. This means your level of cover will effectively increase by the amount of tax...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm\" \/>\n<meta property=\"og:site_name\" content=\"Audenberg News\" \/>\n<meta property=\"article:published_time\" content=\"2015-03-25T15:55:06+00:00\" \/>\n<meta name=\"author\" content=\"Kiba de Klerk\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kiba de Klerk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm\",\"url\":\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm\",\"name\":\"Income Protection : Tax Changes - Audenberg News\",\"isPartOf\":{\"@id\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/#website\"},\"datePublished\":\"2015-03-25T15:55:06+00:00\",\"dateModified\":\"2015-03-25T15:55:06+00:00\",\"author\":{\"@id\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/#\/schema\/person\/00ccdfdd6fd4de10082b7a110930ea01\"},\"breadcrumb\":{\"@id\":\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/audenbergbrokers.co.za\/newsletter\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Income Protection : Tax Changes\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/#website\",\"url\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/\",\"name\":\"Audenberg News\",\"description\":\"News &amp; Tips from Audenberg Brokers\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/#\/schema\/person\/00ccdfdd6fd4de10082b7a110930ea01\",\"name\":\"Kiba de Klerk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"http:\/\/audenbergbrokers.co.za\/newsletter\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d9793b25b70ccddfcf8a9ffa71448f73?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d9793b25b70ccddfcf8a9ffa71448f73?s=96&d=mm&r=g\",\"caption\":\"Kiba de Klerk\"},\"url\":\"https:\/\/audenbergbrokers.co.za\/newsletter\/author\/kiba-deklerk\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Income Protection : Tax Changes - Audenberg News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm","og_locale":"en_GB","og_type":"article","og_title":"Income Protection : Tax Changes - Audenberg News","og_description":"Impact of tax changes on income protection policies Recent changes to the Income Tax Act mean that, with effect from 1 March 2015, income protection premiums will no longer be tax-deductible. Importantly, income protection benefits will also no longer be taxed. This means your level of cover will effectively increase by the amount of tax...","og_url":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm","og_site_name":"Audenberg News","article_published_time":"2015-03-25T15:55:06+00:00","author":"Kiba de Klerk","twitter_card":"summary","twitter_misc":{"Written by":"Kiba de Klerk","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm","url":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm","name":"Income Protection : Tax Changes - Audenberg News","isPartOf":{"@id":"http:\/\/audenbergbrokers.co.za\/newsletter\/#website"},"datePublished":"2015-03-25T15:55:06+00:00","dateModified":"2015-03-25T15:55:06+00:00","author":{"@id":"http:\/\/audenbergbrokers.co.za\/newsletter\/#\/schema\/person\/00ccdfdd6fd4de10082b7a110930ea01"},"breadcrumb":{"@id":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/audenbergbrokers.co.za\/newsletter\/income-protection-tax-changes.htm#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/audenbergbrokers.co.za\/newsletter"},{"@type":"ListItem","position":2,"name":"Income Protection : Tax Changes"}]},{"@type":"WebSite","@id":"http:\/\/audenbergbrokers.co.za\/newsletter\/#website","url":"http:\/\/audenbergbrokers.co.za\/newsletter\/","name":"Audenberg News","description":"News &amp; Tips from Audenberg Brokers","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/audenbergbrokers.co.za\/newsletter\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"http:\/\/audenbergbrokers.co.za\/newsletter\/#\/schema\/person\/00ccdfdd6fd4de10082b7a110930ea01","name":"Kiba de Klerk","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"http:\/\/audenbergbrokers.co.za\/newsletter\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d9793b25b70ccddfcf8a9ffa71448f73?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d9793b25b70ccddfcf8a9ffa71448f73?s=96&d=mm&r=g","caption":"Kiba de Klerk"},"url":"https:\/\/audenbergbrokers.co.za\/newsletter\/author\/kiba-deklerk"}]}},"_links":{"self":[{"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/posts\/29"}],"collection":[{"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/comments?post=29"}],"version-history":[{"count":1,"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/posts\/29\/revisions"}],"predecessor-version":[{"id":30,"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/posts\/29\/revisions\/30"}],"wp:attachment":[{"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/media?parent=29"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/categories?post=29"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/audenbergbrokers.co.za\/newsletter\/wp-json\/wp\/v2\/tags?post=29"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}