Calculation of tax credits for medical aid contributions?

How does one calculate the tax credit for medical aid contributions for persons over 65. I would be grateful if you could answer with an example. Thank you

Please have a look at our blog page relating to Medical Tax Credits

I am a provisional tax payer aged 77 and the IRP6 form asks for the tax credit rather than the medical aid contributions.

As I understand it, the standard tax credit is R 540 per month. Therefore with my wife, the standard tax credit is 540 x 2 x 12 per year = R 12 960. I pay R 3 000 per month in subscriptions i.e. R 36 000 per year. I pay R 36 000 - 12 900 = R 23 040 in excess of the standard tax credit and I am allowed an extra tax credit equal to 1/3 of this amount, i.e. R 23 040 / 3 =R 7 680. Therefore my total tax credit is made up of R 12 960 (Standard tax credit) + R 7 680 (for the excess) = R 20 640.
In addition I am allowed a tax credit of 1/3 of my out of pocket expenses.
Please confirm or point out my error.
Thank you

The tax credit per month for the 2015 tax year was R257 per month so your amount would be R257 x 2 x 12 = R6168

You would then take the ((R36 000 - (3x6168)) *1/3 = R5 832 which is your excess.

Therefore your total credit is R6168 + R5 832 = R12 000

thank you

Only a pleasure!