Tax Laws Amendment (2012 Measures No. 6) Act 2013 (84 of 2013)

Schedule 5   Rebate for medical expenses

Income Tax Assessment Act 1936

17   Subsection 159P(3A)

Repeal the subsection, substitute:

Rebate

(3A) A taxpayer is entitled to a rebate of tax in the taxpayer's assessment in respect of income of a year of income if one or more rebatable medical expense amounts are applicable to the taxpayer in respect of the year.

(3AA) The amount of the rebate is:

(a) if the medical expense rebate higher phase-in limit applies - 10% of the amount by which the total of the rebatable medical expense amounts exceeds the medical expense rebate higher phase-in limit; or

(b) otherwise - 20% of the amount by which the total of the rebatable medical expense amounts exceeds the medical expense rebate lower phase-in limit.

Note: For the phase-in limits, see section 159Q.