F
yes - so you benifit by roughly 50% of 50% in total. So for example, you pay 1k for PHI, they are willing to pay half, 500 which is classed as BIK so you are taxed as if you got paid an extra 500 @ 42% plus PRSI and USC. You net a saving of about 250.My company pay 50% of my PHI (i.e. I go and get my policy, submit the expense to the company and they put 50% back into my pay each month). However, this is then taxed at 42%......does this sound right?
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