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Courses/Accounting & Tax/Corporate Tax

Tax Consequences of Business Insurance

Understand the tax implications of business insurance policies, including deductibility, accessibility, and compliance considerations.

Created byTEO Training
BeginnerUpdated Jan 21, 2025
Tax Consequences of Business Insurance

What You'll Learn

check_circleIdentify the general principles and objectives of various types of insurance policies
check_circleUnderstand the relative tax and GST consequences of both premiums and claims under those policies
check_circleAppreciate how different policy ownership structures can change the income tax and GST consequences

About This Course

Most businesses take out a variety of insurance policies but not all policies are created equal when it comes to the tax consequences of premiums, excesses and payouts.

This updated course will cover various forms of insurance policies across multiple contexts to ascertain the relative tax consequences (for example, life insurance policies for key employees whereby the tax consequences may be dependent on the underlying detail of who is entitled to what).

We will consider:

  • deductibility
  • assessability
  • FBT
  • other matters across life, keyman, indemnity and property-based insurance products within a range of common scenarios

Suited to:

  • Anyone in public practice who acts for businesses
  • Corporate employees in accounting/tax roles 

Your Instructors

TEO Training
TEO Training
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star214 reviews

TEO Training provides practical learning experiences on primarily tax-related topics for accountants, lawyers and business advisors across New Zealand.

Scott Mason
Scott Mason

Senior Partner, Findex

Scott Mason has over 30 years’ experience advising on tax matters, primarily for larger owner-managed businesses throughout NZ. He is a regular presenter for TEO Training and CCH, and Chair of the CAANZ Tax Advisory Group. Scott is a professional director across a range of industries including forestry. Scott is renowned for making complex issues understandable.

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