The Australian Government is phasing out the Net Medical Expenses Tax Offset between the 2014 and 2019 financial years.  It will cease in the 2019 financial year.

From the financial years 2016 to 2019, claims for the offset will be restricted to:
-    Disability Aids
-    Attendant Care
-    Aged Care

Net Medical Expenses are calculated as follows:
Total Eligible medical expenses less refunds from Medicare; national disability insurance schemes (NDIS) and private health insurers.

The offset is income tested – therefore provided you meet the eligibility requirements the percentage that you can claim is determined by your Adjusted Taxable Income and Family Status.

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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