Net Medical Expenses Tax Offset (NMETO)
A reminder that the net medical expense tax offset is being phased out. Only individuals who claimed the offset in the 2014 tax year will be eligible to claim this offset in 2015. This offset will continue to be means tested. The thresholds that apply are as follows:
It is noted that you will also only be eligible for this offset in the 2016 financial year if you claim it in 2015. Therefore, even if you are only minimally over the threshold, it may be beneficial to include this information in your 2015 tax return so you remain eligible in the 2016 financial year.