n Tax Breaks Newsletter - SARS's medical proposals bad for your financial health : medical aid contributions

Volume 2005, Issue 237
  • ISSN :



Extracted from text ... MEDICALAID CONTRIBUTIONS SARS's medical proposals bad for your financial health By KATHY THERSBY IN THE 2005 Budget speech Finance Minister Trevor Manuel announced that the tax treatment of medical aid contributions was under scrutiny "with a view to encouraging broader medical scheme coverage, extending the tax benefit to self-employed individuals and achieving a more equitable tax treatment". The Minister proposed that the two-thirds tax-free provision be replaced by a monthly monetary cap that takes into account the number of beneficiaries covered. This would, said Manuel, provide complete tax relief for more affordable medical aid packages for low and middle-income families, ..

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