Tax Blogs

Medical expenses Gone with the wind

July 16, 2023

Medical expenses offset phased out...

Medical expenses abolished in your tax return

Previously in your Income Tax Return from 2014 to 2019 you could claim the Net Medical Expenses Tax Offset or NMETO, (got to love the acronyms), being, in recent times, for out of pocket expenses relating to disability aids, attendant care, and aged care.

It was being phased out and effectively abolished at the end of the 2019 financial year.

So there are no concessions available for medical expenses in your Income Tax return for the 2020 year and onwards.

Invalid Carer Tax Offset (No acronym) continues as in previous years.

You can still work out a rough estimate of your tax without your medical claims.  Head on over to our Tax Calculator to get an estimate of your refund.

Or get your Tax return done now, on the spot, Gotax.com.au

Leave a Comment