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Gyno & Tax

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Gyno & Tax
« on: July 20, 2008, 09:48:02 PM »
Since it's tax time, just reminding you all that you can claim some medical expenses over $1500 as a tax offset. 

Even though the gynecomastia operation is widely considered cosmetic surgery, gyne is a recognised medical condition and you can therefore get a tax offset of 20% of your total operation cost.

Note:
There are a few catches so read carefully, and I suggest you check with your doctor and the tax department if in doubt.
As I understand it, you have to have actual gynecomastia, i.e. not pseudo-gyne.  If you got glandular excision, then you had real gynecomastia.  If you did NOT have excision, you will not be able to get the offset, as lipo only is considered purely cosmetic. Generally, if you could claim part of the operation on Medicare, then you can use it as a tax offset as well.

Please comment if you have any additional related information.



Linkback: https://www.gynecomastia.org/smf/index.php?topic=14999.0
Surgery done 18th March 2008

Re: Gyno & Tax
« Reply #1 on: July 21, 2008, 06:51:58 AM »
what do u need to and how do u do it ? my operation cost $6500 altogeather so how much could i get back!

Re: Gyno & Tax
« Reply #2 on: July 23, 2008, 03:43:01 AM »
Like I said it depends on your operation. 
Your surgery should have given you a receipt for what can be claimed on medicare. That's the starting point.