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AN EXAMPLE OF HOW THE TAX CREDITS FOR MEDICAL SCHEME CONTRIBUTIONS APPLY A taxpayer registers a family of four on a medical scheme for the full tax year. The taxpayer adds a baby in the last month of the tax year. In the 2023 tax year, using the amounts in the tax tables, the taxpayer will:
R347 + R347 + R243 + R243 = R1 180
R347 + R347 + R243 + R243 + R243 = R1 423
(R1 180 x 11) + 1423 = R14 394. |
