Under the previous system pensioners could claim all expenses. Now my expenses come to R110 000 this year. Am married and would like to know under under new system what would I be able to claim. I am 80 years old
The Medical Aid 2015 rules allow for credits against taxes owing to SARS. What this means is that all contributions to a medical aid will allow you a R257 per month credit against taxes owing, A third of the rest of your medical expenses and parts of your medical aid contributions will allowed as a credit against tax payable as well.
Essentially unless you are earning in the top tax brackets of 35,38 and 40% you actually benefit by the changes in the rules.
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