Medical aid expenses over the tax credit, can I claim?
By Marc Sevitz · Updated
The other medical expenses not paid by your medical aid will be allowed to be claimed as a deduction, but would need to be over the threshold of 7.5% of your taxable income.
So for example:
Taxable Income = R100 000
Other Medical expenses = R10 000
Threshold = R100 000 *7.5% = R7 500
Therefore R10 000 - R7 500 = R2 500 will be allowed.
So for example:
Taxable Income = R100 000
Other Medical expenses = R10 000
Threshold = R100 000 *7.5% = R7 500
Therefore R10 000 - R7 500 = R2 500 will be allowed.