Budget 2013: Medical expense tax offset to be phased out

May 15, 2013 4:54 pm Published by Leave your thoughts

The Government intends to phase out the out-of-pocket medical expense tax offset. Currently, a 20% tax offset can be claimed for eligible out-of-pocket medical expenses in excess of $2,060 per annum. For general medical expenses, only taxpayers who claim the offset for the 2013 income year will be eligible to claim in future years.

Individuals who have expenses relating to disability aids, attendant care or aged care will continue to qualify for an offset up to 2019.

Categorised in:

This post was written by editor

Leave a Reply