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Medical Tax Credits
What is a Medical Tax Credit?
The medical tax credit, brought in from the 2013 tax year provides for a monthly credit against your tax owing to SARS. If you and/or your dependents belong to a medical aid then you will receive in 2023, a R347 (R332 in 2022) medical tax credit per month for the first two members and a further R234 in 2023 (R224 in 2022) per month for every other member or dependent on the same policy. The credit will be deducted automatically off your tax payable. This is different to the previous system where medical aid contributions were deducted against income.
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