Medical aid tax credits

Medical Scheme Fees Tax Credits

Medical aid tax credits Frequently asked questions is the topic for week 4

Who is a Dependant?

A dependant is:

  • A spouse (i.e. husband or wife)
  • A child and the child of a spouse (e.g. son, daughter, step son, step daughter, adopted child)
  • Who was alive during any portion of the year of assessment, and who on the last day of the year of assessment:

ØWas unmarried and was not or would not, had he or she lived, have been:

ØOlder than 18 years

Medical Aid Tax Credits

Medical Scheme Fees Tax Credits

Medical Aid Tax Credits

Thank you for joining us for the 3rd part in the Medical Aid Tax Credits Series.

How does it work?

Medical Scheme Fees Tax Credit will impact both the employer and the employee. This credit must be taken into account by the employer when calculating the amount of Employees’ Tax to be deducted from the employees’ remuneration.

Example 1 – Determination of MTC for the 2015 year of assessment