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What is the amount for the 2012/2013 "allowable medical deduction" code 4008?

Posted 2 July 2013

I would like to find out if the amount (if you are the only dependent) is still R720 p/m for the 2012/2013 tax year? Can this amount be claimed by anyone who pays medical aid?

TaxTim TaxTim says:
2 July 2013 at 18:58

The old medical aid contribution deduction has been replaced by a medical tax credit. It is also dependent on the number of members on your medical aid, but instead of being taken off your income it comes off your actual tax owing as a credit. The idea is to even out the system so that regardless of who pays medical aid or how much they earn they would still be entitled to the same benefit.

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