Page 13 - F6 Slide - Taxation - Lecture Day 3 F

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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