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Tax breaks will help South Africans

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Old 05-10-2005, 01:16 PM   #1
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Tax breaks will help South Africans

CAPE TOWN — The national treasury is proposing tax breaks on medical aid contributions, at a cost to the state of R2,8bn-R3,8bn a year, to encourage broader medical scheme coverage.

The new fringe-benefit tax regime on medical aid contributions — due for implementation from the 2006-07 tax year — is aimed at promoting medical aid membership among low- to middle-income employees, South African Revenue Service (SARS) GM of tax law administration, Kosie Louw, said yesterday.
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Old 05-10-2005, 02:36 PM   #2
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Seems like this legislation may have the effect of taxing those in the higher income brackets, disproportionately.
A wealth tax on people who mostly, by Western standards, would be not considered well off at all!
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