Private Annuity Plan

Hi I got an private annuity plan and some bonds in Hong Kong. The plan and bonds generate some dividend each year. However, I did not withdraw them and let them save with the plans. I am wondering if these dividend are considered as capital gains? Thanks New2024

Hi,
No as you have not actually disposed of an asset.
Thank you.

Thank you for the answer. But will this dividend be considered as an income?

Hi,
If you receive a dividend, this would be taxable as a dividend, even if you re-invest it in the annuity.
Thank you.
 

Hi, I also have a life insurance policy and critical illness policy. I have withdrawn part of the dividend from the life policy and pay the premium for the critical illness policy. Are the withdrawn dividend to pay the premium taxable? Also, are the dividend stay in the policy is taxable? I would like to clarify a point for the annuity. No matter the dividend withdrawn or not, the dividend is taxable, is that correct? thank you.

Further to previous question, will double taxation happen to the life policy and annuity when they are matured in the future. It is because the dividend already applied to every taxation year and the profit gain apply again when they are matured.

Hi,
You can see the guidance here:
HS321 Gains on foreign life insurance policies (2024)
Thank you.

Hi,
We cannot advise on this matter.  
You can see the guidance here:
IPTM3500 - Calculating gains: general
and guidance on partial surrenders regarding the ‘5 per cent rule’ here:
IPTM3560 - Calculating gains: part surrenders and part assignments: ‘periodic calculations’ and ‘excess events’: calculation method  
The event is known as an ‘excess event’.
Thank you.