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Re Medical Scheme Fees Tax Credit Code 4116 on IRP5, ITR12 & ITA34

Posted 2 July 2013

I noticed my IRP5 had a new Code 4116 Medical Scheme Fees Tax Credit which I did put in my ITR12 amounting to R5520 as we are 2 Members of my medical aid. I then noticed in my ITA34 on the Assessment page under MEDICAL DEDUCTIONS under Code 4020 I am claiming R39597 for Medical Expenses not recovered from Medical BUT then under that in Description it shows;
Medical Tax Credits X4 -R22080.00
Q - My question is why its it showing X4 ?? as that amount would mean R5520 per 2 members per year X 4 = -R22080.00 .. Wouldn't that be 4 years of tax credits minused?? Is it correct to be showing like that???

TaxTim TaxTim says:
4 July 2013 at 0:02

Have a look at our latest blog Medical Expenses Guide

If you have any questions after that please let us know.

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