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Yeah, but how do I know the rebate has been applied correctly/my company has done their job properly?
You get a flat rebate now, R230/m for the main member and R154/m for dependants for last year, R242/m for the main member and R162/m for dependants this year.
If your medical aid contributions are listed on your IRP5 they've done their job and if they didn't deduct the rebate SARS will calculate your tax correctly anyway.
^^^^
It used to be like that, but not anymore it seems...
Apparently they had 20 000 submissions by 6Am this morning
that's got to be some sort of record
So how does it work if my medical aid is actually part of my CTC?
I guess that just means more money will be available for service delivery by government, but I was kind of hoping for a tax refund again this year. Guess they will want me to submit "supporting documentation" after the first assessment promises me a refund with incorrect values which they know I will lodge a dispute against and after re-assessment I might end up getting far less money refunded. BTW that was what happened almost every year.
If you are wondering where your medical aid tax credit is reflected:
Once your other deductions are completed and they work out the amount on your taxable income, the figure under "Rebates" will reflect the standard rebate of about +/-11k + whatever medical credit you receive. ( Mine shows +/- 17k which added the medical credit of +/- R5500).
They should be more clear about this. Took me a while to figure it out. For high earners, this new system actually sucks.
5 minutes after filling i got spammed. Klick here withing 24 yours for your refund of 3000. From a @ sars email address.
Wtf sars.....