25 Mar You are travelling? Did you know that a portion of your travel insurance could be tax deductible?
Good news for casual or frequent travellers, your travel insurance may entitle you to a tax credit.
If your travel insurance premium is primarily medical expenses coverage, it may qualify as medical expenses to a tax credit. Of course, all of this is still conditional on your annual income and other medical expenses rules.
Many travel insurance companies automatically issue tax receipts or indicate this information on their documentation. If this is not the case for you, simply contact your insurer.
In closing, keep all your travel insurance receipts in the future as you may be eligible for a tax credit.
NEED TRAVEL INSURANCE?
We have what you need! Online quote in a few minutes!