Tax relief for insurance premiums to benefit Singapore economy - PwC
A tax write-off for insurance premiums will encourage higher uptake of health insurance amid growing pressure on Singapore’s healthcare system, according to global consultancy firm PwC. According to PwC Singapore’s Budget Proposal 2019, the relief will allow more taxpayers to purchase health cover for themselves and their families to help with growing healthcare costs. The proposal also suggested that the tax deductions have a cap which could be scaled according to age, reported Singapore Business Review.