Page 51 - P6 Slide Taxation - Lecture Day 3 - VAT Part 1
P. 51
Income from Employment
Medical Costs
• Example 1
• Facts: Mr X is 65 years old and receives a
pension of R350 000 per annum. He does not
qualify for any tax deductions. For the year of
assessment commencing on 1 March 2014, he
made contributions to a medical scheme of R2
000 per month on behalf of himself and his wife.
By 28 February 2015, he had incurred R20 000 in
qualifying medical expenses.
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