25 May 2016 at 7:24
Hello - I am 52 years old - I have a medical aid - a discovery coastal saver - essentially a hospital plan with a portion of my my premiums going into a savings account every month. I understand that I get a rebate based on my premiums paid. I am trying to understand what constitutes a qualifying medical expense. If money is taken form my medical savings account (which is effectively my money) do these expenses count as "qualifying" - my accountant has told me that only if I spend more than a certain percentage of my yearly earnings will it then qualify as additional medical expenses. Can you please clarify exactly for me which expenses qualify and if there is a threshold which is in place at all?
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25 May 2016 at 10:34
Please read our blog on Medical expenses which should clarify your questions as to what constitutes qualifying medical expenses.
Please also make use of our Medical Tax Credits Calculator to see what your medical credit will be based on medical aid contributions and additional qualifying expenses.