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Dental charges and tax deductible

Dental charges and tax deductible

Old Jun 14th 2012, 4:45 am
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Default Dental charges and tax deductible

Hey guys,

Just wondering if someone can give me a quick hand with tax. I have been told by my dentist that I need $4k's worth of dental work which will take a few months. I know if I spend more than $2k in a year on medical and dental, I can claim the reminder as tax deductible at 20%. However, I know this is going to change after 30th June. If I pre-pay all of my charges in this tax year, but I still receive some of my treatments earlier in the next tax year, would I still be able to claim it as tax deductible in this tax year?

I'm having to turn stones to mitigate the sudden drop in income for LAFHA until I find myself a new job.

LP
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Old Jun 14th 2012, 5:16 am
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Default Re: Dental charges and tax deductible

I'm not sure it applies to dental - it only applies to items covered by the Medicare Benefits Schedule - see http://www.humanservices.gov.au/cust...are-safety-net

Where it lists;
Some examples of out-of-hospital services where costs count towards the Medicare Safety Net are:

GP and specialist consultations
blood tests
CT scans
pap smears
psychiatry
radiotherapy
tissue biopsies
ultrasounds
x-rays

I assume if the dentistry is 'medical' ie. reconstruction or similar it may be covered but bridges, crowns etc are not covered as far as i know.

Hope you get it all sorted.
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Old Jun 14th 2012, 5:18 am
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Default Re: Dental charges and tax deductible

Just to add it specifically states;

What Medicare does not cover
Medicare does not cover:

private patient hospital costs (for example, theatre fees or accommodation)
dental examinations and treatment (except specified items under the Chronic Disease Management program)
ambulance services
home nursing
allied health services such as physiotherapy, occupational therapy, speech therapy, eye therapy, chiropractic services, podiatry or psychology (except specified items as part of the Chronic Disease Management Plan)
acupuncture (unless part of a doctor's consultation)
glasses and contact lenses
hearing aids and other appliances
the cost of prostheses (except external breast prostheses covered by the External Breast Prostheses Reimbursement Program)
medicines (except for the subsidy on medicines covered by the Pharmaceutical Benefits Scheme)
medical and hospital costs incurred overseas (although Australia does have reciprocal arrangements with some countries)
medical costs for which someone else is responsible (for example: a compensation insurer, an employer or a government authority)
medical services that are not clinically necessary
surgery for cosmetic reasons only
examinations for life insurance, superannuation or membership of a friendly society.
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Old Jun 14th 2012, 6:03 am
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Default Re: Dental charges and tax deductible

Thanks, I've been doing more research and it looks like you can claim a tax offset for dental charges above $2060 which is means-tested from end June.

http://www.smh.com.au/money/tax/june...529-1zftb.html (tip 3)

http://www.ato.gov.au/individuals/co...0&mfp=&st=&cy=

http://www.ato.gov.au/individuals/co...72.htm&page=11

So I guess I should pull my finger out and get it paid for.

There are quite a few dental websites saying people should be quick before it's means tested.

Thanks!

LP.
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Old Jun 14th 2012, 6:15 am
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Default Re: Dental charges and tax deductible

That's good to know - they cover Lasik too!

Glad you can claim on non-cosmetic dentistry, might think about getting a crown I need now!
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Old Jun 14th 2012, 6:36 am
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Default Re: Dental charges and tax deductible

Ooooohhhh. LASIK too. When I get some time I will have to work out how much it would cost...
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Old Jun 14th 2012, 10:29 am
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Default Re: Dental charges and tax deductible

Originally Posted by goldchoccycoin View Post
I'm not sure it applies to dental - it only applies to items covered by the Medicare Benefits Schedule - see http://www.humanservices.gov.au/cust...are-safety-net

Where it lists;
Some examples of out-of-hospital services where costs count towards the Medicare Safety Net are:

GP and specialist consultations
blood tests
CT scans
pap smears
psychiatry
radiotherapy
tissue biopsies
ultrasounds
x-rays

I assume if the dentistry is 'medical' ie. reconstruction or similar it may be covered but bridges, crowns etc are not covered as far as i know.

Hope you get it all sorted.
Originally Posted by goldchoccycoin View Post
Just to add it specifically states;

What Medicare does not cover
Medicare does not cover:

private patient hospital costs (for example, theatre fees or accommodation)
dental examinations and treatment (except specified items under the Chronic Disease Management program)
ambulance services
home nursing
allied health services such as physiotherapy, occupational therapy, speech therapy, eye therapy, chiropractic services, podiatry or psychology (except specified items as part of the Chronic Disease Management Plan)
acupuncture (unless part of a doctor's consultation)
glasses and contact lenses
hearing aids and other appliances
the cost of prostheses (except external breast prostheses covered by the External Breast Prostheses Reimbursement Program)
medicines (except for the subsidy on medicines covered by the Pharmaceutical Benefits Scheme)
medical and hospital costs incurred overseas (although Australia does have reciprocal arrangements with some countries)
medical costs for which someone else is responsible (for example: a compensation insurer, an employer or a government authority)
medical services that are not clinically necessary
surgery for cosmetic reasons only
examinations for life insurance, superannuation or membership of a friendly society.
You're getting confused. The medical expenses tax rebate is nothing to do with Medicare or the Medicare saftey net.

Any expense for medical treatment counts towards the 20% tax rebate. However, if you have any 'alternative' treatment (e.g. accupunture) this must be carried out under the direction of your GP (i.e you need a referral).

Cheers

LG
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Old Jun 14th 2012, 10:50 am
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Default Re: Dental charges and tax deductible

Originally Posted by lonndongeek View Post
You're getting confused. The medical expenses tax rebate is nothing to do with Medicare or the Medicare saftey net.

Any expense for medical treatment counts towards the 20% tax rebate. However, if you have any 'alternative' treatment (e.g. accupunture) this must be carried out under the direction of your GP (i.e you need a referral).

Cheers

LG
Ahh, oops. Sorry about that. Good to know, always thought it was the same deal. Thanks.
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