What is "Tax Deductible"

[DrewChan]

Most of the tough stuff is done by my work - medical aid blah blah,

Just wondering what else we can add.

Someone here says - travel expenses [Transport to work]
Charity donations

etc etc etc

Want to maximise my chances of getting money back

 

[Sinbad]

Charitable donations if you have a tax letter from them.
Transport to work - no ways.
Any RA contributions done that aren't listed on your IRP5

 

[Ockie]

Charitable donations if you have a tax letter from them.
Transport to work - no ways.
Any RA contributions done that aren't listed on your IRP5

And medical aid contributions + medical expenses not recovered from med aid. Well..there is a place to fill that in anyway.

EDIT: Oh...see OP already has medical aid on his list.

 

[D3nz]

Also any medical expenses not covered by medical aid.

 

[DrewChan]

Hmmm does your med aid sheet show what costs are not covered by them - or should I be keeping those slips?

 

[Arzy]

Very little, unless you are self employed at its part of your normal business expenses.

 

[Sinbad]

Hmmm does your med aid sheet show what costs are not covered by them - or should I be keeping those slips?

My discovery certificate has an entry for claims not paid...

 

[D3nz]

Hmmm does your med aid sheet show what costs are not covered by them - or should I be keeping those slips?

You should be keeping those slips

 

[Ockie]

Hmmm does your med aid sheet show what costs are not covered by them - or should I be keeping those slips?

This is reflected on my Discovery certificate. I have about R900.00 on there that was not covered.

 

[Sinbad]

This is reflected on my Discovery certificate. I have about R900.00 on there that was not covered.

Heh. Mine's about 25k

 

[DrewChan]

Now to wait for my work to issue our IRP5s

 

[D3nz]

This is reflected on my Discovery certificate. I have about R900.00 on there that was not covered.

I haven't noticed it on the Momentum certificate, but then I know they're not going to cover it and I just pay cash and keep the slips. Off topic, it sucks getting that medical aid tax refund every month...cuts down on the nice amount I usually get every year

 

[DrewChan]

I'm also Momentum

 

[Jakes147]

Hmmm does your med aid sheet show what costs are not covered by them - or should I be keeping those slips?

The easiest way is to submit all your expenses during the year even after running out of benefits. Your tax certificate will reflect the total not paid out.

 

[AlmightyBender]

If your only source of income is a salary then pretty much only the things mentioned above. It's only when you start having multiple sources of income e.g. rental income, that things start to become intereting. And definately can't deduct travel to and from work haha.

 

[rubytox]

My discovery certificate has an entry for claims not paid...

SARS does not accept that claims statement from your medical aid. You have to fill out an excel worksheet and you need invoices and receipts or a bank statement as proof of payment. They do not pay for self-medication. You have to provide an Rx number as well as a receipt number for medication from your pharmacy.

http://bgrwellington.co.za/blog/sars-requirements-for-medical-expenses/

 

[Sinbad]

SARS does not accept that claims statement from your medical aid. You have to fill out an excel worksheet and you need invoices and receipts or a bank statement as proof of payment. They do not pay for self-medication. You have to provide an Rx number as well as a receipt number for medication from your pharmacy.

http://bgrwellington.co.za/blog/sars-requirements-for-medical-expenses/

Is this new? Up till now it's always been fine

 

[rubytox]

Is this new? Up till now it's always been fine

Then SARS has never queried your medical claims. It's happened to me twice over the last few years. The fist time I was well prepared and had all the documents. As for the 2012 tax year, I'm still trying to get proper proof of payment for all my medical expenses. It's a nightmare, especially when you paid the doctor by EFT or credit card and lost some of your bank statements.

In future I will keep a box for medical expenses and every single invoice, receipt and proof of EFT will go into that box.

 

[rubytox]

BTW, once you submit all your medical bills and they reject claims because of a lack of proof of payment, they will reverse your refund and you will receive a bill from SARS. You can file a notice of objection but once that has been issued by SARS, you have only 30 days to lodge an appeal and provide all the documents.

 

[D3nz]

In future I will keep a box for medical expenses and every single invoice, receipt and proof of EFT will go into that box.

This is what I do, but so far SARS has never asked for supporting documents.