Tax on Medical Aid
By Marc Sevitz · Updated
I currently work for a company where the medical aid is paid in full by the business, however my tax is killing my net. I work on a gross of R29 537. 08 PM but only net R20 042. 21 which means I am paying almost R10000 a month in tax. According to my company, they say nothing can be done to reduce the monthly tax as it would be unlawful. I want to find out if that is true or if anything can be done to help the situation?
Do you use a laptop for work purposes which you own? Do you donate to charities or have a medical aid?
No charity, but the medical aid is paid in full by my company for myself, wife and 2 kids.
There is also the pension fund, breakdown below.
Med Aid CC: 8666.00
Provident fund CC: 1727.92
Provident fund my contribution: 1476.85
Thanks
There is also the pension fund, breakdown below.
Med Aid CC: 8666.00
Provident fund CC: 1727.92
Provident fund my contribution: 1476.85
Thanks
Unfortunately there is nothing that can be done, your tax is determined by your income and if you cannot reduce your taxable income through deductions then the tax will be the amount as decided by te tax tables.