Medical aid and tax?
By Marc Sevitz · Updated
Medical aid credits, does it get deducted monthly from your payslip? Is there any tax benefit to the company by offering a medical aid and contributing towards the premium? Should the company's contribution be added onto your salary as a taxable fringe benefit?
Yes the company contribution will be added to your taxable income as it is a fully taxable fringe benefit - the company will be able to deduct this payment as part of their normal employment costs.