2015/16 Budget Updates

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Taxpayers are reminded to take into account some of the changes announced in by Finance Minister Nhlanhla Nene in his budget speech on 25 February 2015:

  • Contributions to an Income protector no longer tax deductible;
  • The primary rebate has been increased to R13 257; and
  • The medical scheme fees tax credit for monthly medical contributions for the 2016 tax year is R270 per person, which includes the main member and the first dependent. All other dependants set at R181 per dependant.