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Parker said: 30 June 2015 at 2:23 Is MPS (Medical Protection Society) tax deductable? Where does it go on an IRP5? |
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TaxTim Evan said: 30 June 2015 at 8:32 Is this a professional fee for medical professionals? Similar to a membership fee? |
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Parker said: 30 June 2015 at 9:27 MPS is a medical malpractice insurance that you pay annually so that you are protected in the event of a case being laid against you for malpractice. You cannot work in the private sector without this. |
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TaxTim Evan said: 30 June 2015 at 10:17 You would only be able to deduct this amount if you work privately or have your own practice. If you are a full time salaried employee then unfortunately you will not be able to deduct this expense. |
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Parker said: 1 July 2015 at 0:00 I am a full time salaried employee at a Private Hospital (not a specialist) and they don't cover me for this i.e. in order to be employed, I have to have my own medical malpractice insurance. Does this still exclude me from using it as a tax deduction? |
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TaxTim Evan said: 1 July 2015 at 7:11 Yes unfortunately it does, accountants, lawyers etc have the same issue as you for membership fees which unfairly cannot be deducted. |
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