![]() ![]() ‘Higher Income’ Thresholds Change to Adjusted Taxable Income Formula “Adjusted Taxable Income” is your declared taxable income with certain fringe benefits, exempt income and losses added back – see ATI.The income test is based on Adjusted Taxable Incomes with respect to the Medicare levy surcharge higher income thresholds. Higher income earners have a reduced offset rate of 10% and a higher minimum expenses threshold (over $5,000). Net Medical Expenses Tax Offset rates and Thresholds Higher Income Earners – From 1 July 2012 income-testedįrom 1 July 2012 the rebate is subject to an income test which is based on the Medicare levy surcharge income minimum thresholds. Medical Expense Offsets are not refundable if the amount of the offset is greater than your tax payable. => See Claimable Family Offset is not refundable children under 21 years or student children under 25 years.The medical expenses you can claim are limited to yourself and your spouse, and certain dependent relatives subject to qualifying conditions: See here for Allowable medical expensesįrom 2015-16 (until 2018-19) transitional arrangements only allow claims for disability aids, attendant care or aged care expenses. ![]() It excludes cosmetic procedures which Medicare doesn’t support, and claims cannot include expense amounts reimbursed under Medicare or health insurance cover. This includes payments to or for doctors, nurses, chemists, dentists and public and private hospitals.In general it is restricted to payments to legally registered practitioners, for an illness or operation or for medical conditions. What qualifies as medical expenses is legally defined, but quite wide-ranging. Eligible medical expenses – what’s includedįrom 2015-16 (until 2018-19) transitional arrangements only allow claims for disability aids, attendant care or aged care expenses. The offset claim is reserved for resident taxpayers, including a current spouse and (broadly) dependants (see below). except for higher income earners for whom the offset is 10% of net medical expenses above a claim threshold of $5,000Ģ0% of net medical expenses above the respective thresholds Residence requirement.20% of net medical expenses above the threshold of $2,120.except for higher income earners for whom the offset is 10% of net medical expenses above a claim threshold of $5,100.20% of net medical expenses above the threshold of $2,162. ![]() except for higher income earners for whom the offset is 10% of net medical expenses above a claim threshold of $5,233. ![]()
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