In Australia, a tax rebate is available to any taxpayer whose net medical cost (expenses for themselves or their dependants) in the year of income exceed $1,500. The amount of rebate is currently 20% of the excess over $1,500 and is paid by the Australia’s Tax Office as part of the taxpayer’s income tax return assessment.

Medical Expenses include cost of registered medical practitioners, dentists, orthodontists and opticians. Also included are payments made to public or private hospitals in relation to an operation or illness in Australia.

Example:

Taxpayer has net medical expenses of $5,600 in one year inclusive of $4,400 – the cost of Laser Eye Surgery.

The Taxpayer is entitled to a rebate of 20% of his or her cost after $1,500 threshold:

20% x ($5,600 – $1,500) = $820.

This means that 20 cents in every dollar spent on medical cost, which is over the $1,500 threshold, is refunded to the taxpayer.

That means that the cost of Laser Eye Surgery in your case is only $3,580 or the cost is $1,790 per eye after your tax rebate.

Please consult your accountant for exact details in your particular situation and what will the cost of Laser Eye Surgery in your case.

To find what will be the cost of Laser Eye Surgery in your particular case, call us FREE on 1800 DR EYES (1800 37 3937) to talk to one of our Patient Education Counsellors now or Contact us Online for your free laser eye surgery assessment today.