The Pool Scheme does not attempt to circumvent the tax system.
No tax advantage is claimable and no tax is payable.
In each Pool the underlying concept is to provide a gift to a member of the group in their time of need.
By formalising this through a Constitution so that there is no ambiguity, favouritism or misunderstanding.
By taking the premiums out after tax and earning no further income on those funds, then the final gift becomes non taxable.
Every workplace has done a whip around for an employee who is going through a tough time, the Pool Scheme is designed to ensure that this is done fairly and equitably.
