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AB says: 13 May 2015 at 13:25 I am 67 years of age and a pensioner. In terms of the 2015 tax year how is the deduction in terms of Medical Aid contributions been calculated. Example: Annual contributions to my medical aid fund = R24,000 Med expenses (Dr precriptions) paid out of my pocket = R2000 Previously in terms of my age above 65y, I have deducted my med. Contributions premiums, as well as my med expenses paid out of my pocket(prescriptions) as well as med expenses paid by myself and reflected on my medical scheme Tax return(which was rejected by them as my fund was exhauasted? |
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TaxTim says: 13 May 2015 at 13:29 Please have a look at our article on Medical Tax Credits to see how the new system will affect you. |
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AB says: 13 May 2015 at 20:05 Thanks for quick reply. What is the prescribed rules for a person with a disability, as previous all medical contribution and expenses could have been deducted? Thanks, Regards, AB |
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TaxTim says: 15 May 2015 at 17:44 Disability will be covered in the same way that taxpayers of 65 are and be subject to the 3x credit with no lower limit needed. |
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