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Recouping Tax Deductions From Previous Tax Year?



Is it possible to claim a deduction for tax in the following tax year which you have incurred in the previous tax year?

TaxTim Marc TaxTim Marc said:
2 October 2013 at 11:46

What was the deduction?

John said:
2 October 2013 at 11:56

I have just realized that I was eligible to claim medical deduction but I didn't include them, since the medical aid contribution certificate was in my wife's name (main member) even though I paid for the contribution. During the same period I was working overseas and my income tax exempt-able. Hence I thought the deduction won't be allowed since I was not going to pay tax anyway.

TaxTim Marc TaxTim Marc said:
2 October 2013 at 12:53

You cannot claim deductions for medical aid against exempt income. Medical deductions cannot reduce taxes payable if taxes were not paid resulting in a carried forward loss. Furthermore you cannot claim expenses of a medical nature outside of the year to which it belongs.

John said:
2 October 2013 at 12:54

Thanks for your response.

TaxTim Marc TaxTim Marc said:
2 October 2013 at 15:13

Only a pleasure!

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