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How to handle medical aid contributions paid by companys for ex employees(over 65).

Posted 23 June 2015 under Tax Questions


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Pensioner says:
26 May 2015 at 9:48

I am a pensioner, over 65, and my ex company contributes 50% of subscription to my medical aid. In response to my query to them if they would issue me with an IRP5 certificate covering their portion for me to declare as income I received this reply: Company medical aid contributions paid to ex employees will not be regarded as income in the hands of the ex employees and confirmed to me that medical aid contributions paid to former employees will not be taxed. There is therefore no need to issue IRP5 certificates.

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TaxTimTaxTim says:
26 May 2015 at 22:48

That is correct, there is not tax to be charged on your former employer paying for the medical aid.


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