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Debbie says: 18 August 2015 at 10:51 Are Gap Cover monthly payments tax deductible? "Gap cover falls under the definition of %u20AC%u0153accident and health policy%u20AC, in the Short Term Insurance Act No. 53 of 1998, or the Long-term Insurance Act, 1998 and not the Medical Schemes Act, 1998. " My gap cover has said they are unable to give me a tax certificate because it is not tax deductible. Please can you assist. |
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TaxTim says: 18 August 2015 at 12:57 Gap cover is treated as short term insurance and not medical cover which means it is not deductible for tax purposes unfortunately. Therefore the advise you were given is correct. |
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Debbie says: 18 August 2015 at 12:58 Thanks very much for the quick response! |
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TaxTim says: 18 August 2015 at 14:01 Only a pleasure! |
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