TAX CREDIT for the employees aged above 65

Question

Hi All, 
 Please confirm that if any additional TAX CREDIT is applicable for the >65 Years aged employees. We can't see any update in the Payroll guide. 
 
 Regards, 
 Sivachidambaram S

Francois Brand · Accepted Answer

Hi Sivachidambaram, 
 Please refer to page 29 of the Payroll Tax Pocket guide for 2023/2024: 
 
 The formula for calculation the additional tax credit remains the same, and the values are determined by the new credit amounts: 
 The monthly medical scheme fees tax credit amounts are: &bull; R364 for the main member, &bull; R364 for the first dependant, and &bull; R246 for each additional dependant.

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TAX CREDIT for the employees aged above 65

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