On your tax certificate, we give you the necessary information to complete your tax return
- The line showing the amount for your contributions shows medical scheme contributions for this tax period only. Any backdated changes that apply to this tax period, but which were made after this certificate was created, will be shown on the tax certificate for the next tax period. If you get an IRP5 from your employer, you should rather refer to the contribution amount on your IRP5 when filling in your tax return. If you are a pensioner receiving post-retirement benefits, the IT3(a) will show this.
- "Claims not recovered from the Scheme" refers to claims your plan did not cover, for example, where claims were more than the benefit limit. We have included claims processed up to 28 February 2021.
- A breakdown showing the total number of active members - main member and active dependants - each month (you have to list these on your tax return).
The tax certificate shows only the portion of your monthly contributions for which you can get a tax deduction. We consider only the portion of your monthly contribution paid to the Scheme (including your Medical Savings Account, if applicable). Your monthly Vitality or Vitality and KeyFIT combo contribution, for example, is not tax deductible.
"Claims not recovered from the Scheme" shows claims the Scheme did not pay, including any part of a claim not paid. These would be the sum of all processed in-hospital and out-of-hospital claims we did not pay, due to, for example, your funds being used up or your claims being more than your benefit limits.
The portion of your medical scheme contributions you can get a tax benefit on is calculated on a monthly maximum rand amount (a "capped amount") that is based on the number of people on your membership.
Visit the SARS website, www.sars.gov.za or contact your tax adviser for more information.
As we administer money within a savings component, we are required to tell you how much interest you have earned.
The amount on this certificate shows the total interest earned on the money left (if any) in your Member Savings Account.
The IT3(b) shows the interest you've earned on your Medical Savings Account during the tax year. Interest is calculated in arrears. So, the interest calculated at the end of the month is based on the opening balance for that month.
The Scheme accrues contributions to the Medical Savings Account monthly. Whatever you don't use for the current month, earns interest.
The closing balance for the Member Savings Account that is printed on the certificate shows the total contributions paid into this account, minus the claims paid, plus interest earned until 28 February 2021.
We consider claims processed (or changes to how the claim was processed) after 28 February 2021 for the next year's tax certificate. The Scheme reports the tax data at 28 February 2021 to SARS and cannot issue manual tax certificates.
Your tax certificate should be printed with an 'authorised copy' watermark. If it doesn't, change your printer settings to print background colours and graphics.