QDAP is a deferred annuity product complying with the guidelines issued by the Insurance Authority (IA) and certified by the IA. Taxpayers are allowed to claim a tax deduction for their qualifying deferred annuity premiums. QDAP must comply with a number of requirement including: the minimum total premiums of HKD180,000, a minimum payment period of 5 years, annuitisation at the age of 50 or above etc. For details, please visit IA’s website.