Medical scheme fees tax credits

Medical scheme fees tax credits

What is a medical scheme fees tax credit?

If you pay any PAYE or provisional taxes you are eligible to claim a rebate against any taxes paid. The rebate cannot be carried over to the next year of assessment

Who can apply?

The tax rebate can be claimed by anyone paying a registered medical scheme for themselves and their dependents.

 

Current rebates

 

01 March 2021 to 28 February 2022 01 March 2020 to 28 February 2021
Single taxpayer R332 / month R319 / month
A single taxpayer with one dependant R664 / month R638 / month
Each additional dependant R224 / month R215 / month

Additional Medical Tax Credit

An additional medical tax credit can be deducted calculated as follows

  1. Any person older than 65 years
    1. 33.3% of the fees paid to a registered medical scheme that exceeds the monthly rebates above plus
    2. 33.3% of all qualifying medical expense not covered by the medical scheme.
  2. Any person or their dependant that is a person with a disability
    1. 33.3% of the fees paid to a registered medical scheme that exceeds the monthly rebates above plus
    2. 33.3% of all qualifying medical expense not covered by the medical scheme.
  3. Any other person not specified in the two abovementioned categories
    1. 25% of the sum of:
      1. Total actual medical aid fees less four (4) times the medical tax credit plus
      2. All qualifying medical expenses plus physical impairment expenses less
      3. 7.5% of the taxable income (excluding certain lump sums)

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