MEDICARE NET MEDICAL EXPENSES OFFSET

Many people are unaware of a tax rebate that you may be able to claim towards the total cost of your dental treatment in a single financial year.

This is a taxation rebate/offset and is for any out of pocket expenses incurred in the financial year for medical/dental/optical expenses exceeding $1500. It is called the "Net medical expenses tax offset" whereby "Net medical expenses "are the medical expenses you have paid less any refunds you got, or could get, from Medicare or a private health fund.

You can claim a tax offset of 20% – 20 cents in the dollar – of your net medical expenses over $1,500 and there is no upper limit on the amount you can claim.More information can be found at this link: ATO website

Please note that as this information is provided as general information,it does NOT constitute accounting or financial advice and you should consult a qualified accountant in order to determine what extent a medical rebate will apply to your situation.

We also offer affordable Interest Free Payment Plans (up to 12 months) provided by GE Finance and extended payment plans if needed so that you can begin any necessary treatment right away without delay.