Curtain soon to fall on Medical Expenses claims

The Federal government has been phasing out the Medical Expenses tax offset, which entitles individuals to a tax reduction of either 10% or 20% (depending on the individual’s income level) of the amount paid for medical expenses above a certain threshold. Since 1st July 2015 the offset has only been available to individuals in respect of costs of disability aids, attendant care or aged care, but 30th June 2019 will see this concession come to an end.
It is a timely reminder to ensure that, where applicable, eligible costs are paid prior to 30th June 2019 to bring them within the scope of the offset.

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