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MEDICAL EXPENSES OFFSET
30 JUNE 2015
To qualify you must have received a medical expenses rebate in the 30 June 2013 and 2014 years.
Level 1
20% TAX OFFSET OF NET ELIGIBLE MEDICAL EXPENSES > $2,218 PER FAMILY
Singles and Families with adjusted taxable income of < $90,001 and $180,001 respectively plus
$1,500 for each child after the first.
30 JUNE 2015 INCOME TESTED
10% TAX OFFSET OF NET ELIGIBLE MEDICAL EXPENSES > $5,233 PER FAMILY
Singles and Families with adjusted taxable income of > $90,000 and $180,000 respectively plus
$1,500 for each child after the first.
ELIGIBLE MEDICAL EXPENSES INCLUDE PAYMENTS TO:
A legally qualified medical practitioners, nurses or chemists in
respect of an illness or an operation.
A public or private hospital in relation to an illness or operation.
A dentist or for dental services or treatments, or for the supply,
alteration or repair of artificial teeth.
Therapeutic treatment provided that the treatment is administered at
the direction of a medical practitioner.
Opticians or optometrists, including for the cost of prescription
spectacles or contact lenses.
A carer who looks after a person who is blind or permanently
confined to a bed or wheelchair.
Medical aids prescribed by a doctor.
Artificial limbs or eyes and hearing aids.
Maintaining a properly trained dog for guiding or assisting people
with a disability.
Laser eye surgery.
Treatment under an in-vitro fertilization program.
EXCLUSIONS
Cosmetic operations for which a Medicare benefit is not paid.
Dental services or treatments that are solely cosmetic.
Vaccinations for overseas travel.
Non-prescribed vitamins or health foods.
Travel or accommodation associated with medical treatment.
Contributions to a private health insurer.
Life insurance medical examinations.
Ambulance charges and subscriptions.
Funeral expenses.
ATO Practice Statement LA 2005/7
In some circumstances BPAY and internet banking statements may include sufficient details to support the correctness of your claims. Suppliers may not issue a receipt containing all the information required by the substantiation legislation. However you may use a combination of other documents to support your claims.
e.g., Medicare Statements, Pharmacy Statements, Physiotherapy, etc. plus a break up of expenses, etc.
In some cases if a credit card statement has the date of the transaction, the name of the supplier and the amount paid and you make a note on the credit card statement detailing the items purchased with their respective prices, the Tax Office may accept this as sufficient evidence.
The above does not apply for EFTPOS transactions because bank statements do not show cash withdrawals separately.
DISCLAIMER
We have clients from the following locations:
Brisbane, Gold Coast, Sydney, Newcastle, Cairns, Canberra,
Melbourne, Adelaide, Perth, Darwin.
Other:
Brisbane, Albion, New Farm, Teneriffe, Newstead, Windsor,
Wilston, Bowen Hills, Wooloowin, Herston, Lutwyche, Hamilton, Eagle
Farm, Gordon Park, Fortitude Valley, Clayfield, Ascot, Hendra.
Morayfield, Burpengary, Caboolture, Bellmere, Wamuran, Narangba,
North Lakes, Mango Hill, Kallangur, Dakabin, Deception Bay, Bribie
Island, Elimbah, Kippa-Ring.
The information provided in the above documents is not intended to
be, nor should it be construed as tax advice. Any specific
recommendation for a client can only be done after their individual
circumstances have been determined by David Douglas Accountants.
We do tax returns for individuals, trusts, companies, partnerships, contractors, ABNs and sole traders.
Liability limited by a scheme approved under Professional Standards legislation