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Tax question on medical aid and correction for SARS

Posted 19 February 2016 under Tax Q&A


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TaxTim says:
15 February 2016 at 11:01

I've just got back and seen the email from SARS. I have a few questions. 1. I made a mistake on the foreign Income, as it was through the business and not my personal account. I was busy doing my business accounts while filling in my personal tax and got confused. 2. My medical aid was paid by my previous employer. They forgot to cancel my medical aid and have asked me to pay them back for that year. I received a tax certificate from my medical aid so do I still qualify to claim tax from that?

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TaxTim TaxTim says:
17 February 2016 at 14:01

Did you receive any other income from an employer or in a freelance capacity that you need to declare?
When did you leave your previous employer? What period does the medical aid certificate cover?

TaxTim says:
19 February 2016 at 9:08

I have my own business

So I have only been drawing from the business (against the owners loan account). I left the previous employer end of 2013.
The certificate is for the year end of Feb 2015.

TaxTim TaxTim says:
19 February 2016 at 14:01

Have you drawn "salary" from your company for the 2015 tax year or is it all against your loan account?
You should still be able to claim the medical aid credit since you were contributing to the medical aid for the year.

You can "request for correction" and resubmit to correct the foreign income section on the tax return you filed.

TaxTim TaxTim says:
19 February 2016 at 14:01

Have you drawn "salary" from your company for the 2015 tax year or is it all against your loan account?
You should still be able to claim the medical aid credit since you were contributing to the medical aid for the year.

You can "request for correction" and resubmit to correct the foreign income section on the tax return you filed.


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