Medical Tax Credit Rates

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

The Medical Scheme Fees Tax Credit Medical Scheme Fees Tax Credit (MTC) applied from 1 March 2012 (the 2013 tax year) but didn’t affect all categories of taxpayers at once. There are two different start dates depending on the age of the taxpayer:

  • Taxpayers younger than 65 – converted to the Medical Tax Credit from 1 March 2012
  • Taxpayers 65 and older  – converted to the Medical Tax Credit from 1 March 2014

Medical Tax Credit Rates for the 2019 to 2022 tax years – See changes from last year

​Per month (R)2022​​​2021​20202019
​For the taxpayer; or for a dependant who is a member of a medical scheme or fund, where the taxpayer him- or herself is not a member of a medical scheme or fund​R332​R319​R310​R310
​​For  the taxpayer and one dependant; or in respect of two dependants where the taxpayer him- or herself is not a member of a medical scheme or fund​R664​R638​R620​R620
​​For each additional dependant​R224​R215​R209​R209

Medical Tax Credit Rates for the 2013 to 2018 tax years

​Per month (R)​20182017​​​2016​20152014​​​2013​
​For the taxpayer who paid the medical scheme contributions​R303​R286R270​R257​R242​R230
​For the first dependant​R303​R286​R270​R257​R242​R230
​For each additional dependant​R204​R192​R181R​172​R162​R154

Important: The amounts may vary depending on the number of months in the tax year that a taxpayer and dependants are members of a medical scheme or fund.

More To Explore

Accounting

EMP501 – Employment Reconciliation Declaration

What Is It? It involves an employer submitting an accurate Employer Reconciliation Declaration (EMP501), Employee Tax Certificates [IRP5/IT3(a)s] to be issued and if applicable, a Tax Certificate Cancellation Declaration (EMP601). The three elements that must reconcile in order for your submission to be successful are the: Monthly Employer Declarations (EMP201s) submitted. Payments made (excluding penalty

Accounting

Receive Your Tax Number Via SMS

SARS has added a new web feature, that allows taxpayers to have their tax reference numbers sent to them via SMS. All the client needs to do is, click on this link: https://tools.sars.gov.za/soqs Fill out their personal details on the form. Select the “What’s My Tax Number? “option under the query type drop down. What

Do You Want To Boost Your Business?

drop us a line and keep in touch

Scroll to Top