Claiming Medical Expenses on Tax
Do You know that you can claim medical expenses from your tax , as long as the total out of pocket expenses is more than $1500 in a financial year?
You can claim a tax offset of 20% of your net medical expenses over $1,500, and You can only claim medical expenses for those of your dependants who were Australian residents for tax purposes. For your information, Net medical expenses are the medical expenses you have paid less any refunds you got, or could get, from Medicare or a private health insurer.
The medical expenses must be for:
- you
- your spouse – married or de facto – regardless of their income
- your children who were aged under 21 years, including adopted and stepchildren, regardless of their income
- any other child aged under 21 years – not a student – whom you maintained and whose separate net income (SNI) was less than $1,786 for the first child and less than $1,410 for the second child and any subsequent children.
- a student aged under 25 years whom you maintained and whose SNI was less than $1,786
- a child housekeeper, but only if you can claim a tax offset for them.
- an invalid relative, parent or spouse’s parent, but only if you can claim a dependant tax offset.
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