Medical Tax Credits Calculation
By Evan Robinson · Updated
Hi Tim,
I earn R4500 a month and I pay R700 a month for medical aid for myself. How many medical tax credits will I receive? At the moment if I am correct it is R257 for the main member
which equals 257*12 = 3084. Would that be roughly what I would get? I have been told that I cannot get more than R700 as that is my monthly contribution.
I earn R4500 a month and I pay R700 a month for medical aid for myself. How many medical tax credits will I receive? At the moment if I am correct it is R257 for the main member
which equals 257*12 = 3084. Would that be roughly what I would get? I have been told that I cannot get more than R700 as that is my monthly contribution.
That is correct, however because you actually earn below the tax threshold you will not be entitled to a refund because there have been no taxes paid which can be refunded to you.
Try our medical aid tax credits calculator.
Try our medical aid tax credits calculator.