Recouping Tax Deductions From Previous Tax Year?
By Marc Sevitz · Updated
What was the deduction?
I have just realized that I was eligible to claim medical deduction but I didn't include them, since the medical aid contribution certificate was in my wife's name (main member) even though I paid for the contribution. During the same period I was working overseas and my income tax exempt-able. Hence I thought the deduction won't be allowed since I was not going to pay tax anyway.
You cannot claim deductions for medical aid against exempt income. Medical deductions cannot reduce taxes payable if taxes were not paid resulting in a carried forward loss. Furthermore you cannot claim expenses of a medical nature outside of the year to which it belongs.
Thanks for your response.
Only a pleasure!