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Should I move my family's medical aid into the higher earners name?

Posted 30 May 2013 under Tax Q&A


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My wife is the main member on my family's medical aid, but she earns less than me. If I moved the policy into my name, could we save more tax because I'm in a higher tax bracket?

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

TaxTim TaxTim says:
30 May 2013 at 22:43

Unfortunately not, regardless of what the income level is the medical tax credits remain the same and are dependent on the number of members of the scheme. In fact the lower income earner has a higher chance of the additional tax deduction for out of pocket medical expenses as this is calculated on the amount exceeding 7.5% of taxable income.


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