FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


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

Posted 14 August 2014

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?

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.

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.