FAQ Blog Q&A Calculators Students Logbook Contact
Earn under R350,000?Click here to see why you still need to file to get your Tax Refund.

Taxable Portion on Medical aid paid by company?

Posted 18 July 2013 under Tax Q&A


Need help
submitting your
Tax returns?


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
My basic salary is R18,500 per month. My company pays my full medical aid for myself and my 2 kids. The total paid to Discovery is R4,517.00 per month. The portion added on top of my salary to be taxed is the amount of R3,470.00 (Difference of R1,047 from full amount). So Taxable amount is R21,970.00. What I would like to know is how do they get to this R3,470.00? What is the formula to calculate what portion of your medical aid is taxable every month?

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

TaxTim TaxTim says:
21 July 2013 at 19:52

This would be between you and your employer, depending on what they have agreed to contribute as per your employment agreement.


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Need help
submitting your
Tax returns?


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started