Medical Tax Credit

[Nickolai Naydenov]

You can go get the facts for yourself, a good source would be www.sars.org.za If you like I can email you new tax tables, budget speech, I can even post you one of those SARS books that they release every year which explains what works how and etc

What you've done in your calculation is exactly what I said so I don't see what you not agreeing with?

Then you saying that rebates and credits are the same thing, no they are not. The rebates on medical aid were R720 per adult member, then your total income would be deducted by the R720 and then you would be taxed, so in other words even if your medical aid costed you R2000 you would get R720 tax deductuble. The credits now are actual money back, so yes big difference between rebates abd credits, besides if they were the same things why call them different name? Why do you have ro confuse people when the correct answer was given.

Dave you creating drama here hahaha...

[Christel]

You can go get the facts for yourself, a good source would be www.sars.org.za If you like I can email you new tax tables, budget speech, I can even post you one of those SARS books that they release every year which explains what works how and etc

What you've done in your calculation is exactly what I said so I don't see what you not agreeing with?

Then you saying that rebates and credits are the same thing, no they are not. The rebates on medical aid were R720 per adult member, then your total income would be deducted by the R720 and then you would be taxed, so in other words even if your medical aid costed you R2000 you would get R720 tax deductuble. The credits now are actual money back, so yes big difference between rebates abd credits, besides if they were the same things why call them different name? Why do you have ro confuse people when the correct answer was given.

Dave you creating drama here hahaha...

Hi Nickolai, Sorry for causing confusion.... Yes, I have misread your email in that I thought the R450 you spoke about was the medical tax credit.... my mistake. BUT... the rebates I referred to was the Tax Rebate that SARS give to people... not the Medical rebates as per 2012 year. SARS will NOT pay you out your Tax Credits if it let you go into credit on your tax assessment... This is where they will be treating it the same as the tax rebates. You will thus lose out on those "extra" credits ... (The current tax rebates are: Below age 65: R11440; Age 65 to below 75: R6390 and age 75 and over R2130)

Also w.r.t. Hospital plans - only those that issues a tax certificate will be treated the same as medical aids... those with no certificates... = no credits. There are a few that don't issue tax certificates. People should enquire upfront.

Eish... I hope you accept my appology for creating the confusion.
Christel