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18 May, 04:11

What taxes apply to the benefits under an individual Disability Income Policy on which the insured has paid the premiums?

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  1. 18 May, 07:05
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    The correct answer is (A)

    Explanation:

    Taxes are used to increase government revenue, and to improve government budget. No tax is applied to the benefits under an individual disability income policy. There are various reasons why no tax is applied, but the major reason is that premiums are not deductible. Overall, governments usually don't apply taxes on individual disability income and generally give subsidies.
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