The federal government is set to make COVID-19 tests tax deductible for Australian individuals and exempt from fringe benefit tax for businesses when they are purchased for work-related purposes.
The federal government is set to make COVID-19 tests tax deductible for Australian individuals and exempt from fringe benefit tax for businesses when they are purchased for work-related purposes.Australians earning an income taxed at 32.5pc will receive a refund of about $6.50 for every $20 pack of two RATs
Initially, the change will see PCR and rapid antigen tests become tax deductible, but the government will include future medically approved tests in the scheme. Australians earning an income taxed at 32.5 per cent will receive a tax refund of about $6.50 for every pack of two RATs purchased for $20.
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