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Are ex company 50% share of med subs taxable in hands of retiree of over 70?

Posted 14 August 2014 under Tax Q&A


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I AM OVER 70 AND RETIRED . IF MY EX EMPLOYER PAYS 50 % OF MY MED SUBSCRIPTIONS MAY I CLAIM IT.S SHARE TOGETHER WITH MY SHARE FOR TAX PURPOSES SAY FOR THE LAST 3 YEARS THANKS?

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TaxTim TaxTim says:
15 August 2014 at 0:52

Yes, you are still able to claim the medical tax credit regardless of who pays for it.

Nigel says:
15 August 2014 at 10:01

Thanks Tim ,, does this mean that up till 2013 tax years I could claim the TOTAL medical aid subscriptions AS A DEDUCTION FROM MY INCOME even though my ex company paid 50 %?

TaxTim TaxTim says:
18 August 2014 at 9:26

In the past the ex-employer portion was tax free in your hands and so an IRP5 got issued showing the amount and you then had a reduced benefit. Now you are entitled to the full amount as a deduction.


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