Health Expense Deduction: Who Qualifies and What You Get
Learn how to reduce your taxable income by claiming medical and health insurance expenses on your tax return in Brazil.
This scheme allows you to reduce the amount of income you are taxed on by claiming your medical and health insurance costs.
Who it's for
This is available to taxpayers who are filing a full income tax return.
What you get
You can deduct the full cost of your medical expenses and health insurance premiums from your taxable income. This can lower the total amount of tax you owe.
What it costs you
There is no monetary fee to use this deduction, but it requires significant record-keeping. You must keep all your medical receipts and invoices for five years in case you are asked to prove your expenses.
The catch to know
You cannot claim a deduction for any medical expenses that your employer has already reimbursed through a company health plan. You can only deduct the portion that you paid out of your own pocket.
How to apply
- Gather all your medical receipts and invoices for the year.
- Ensure you have the correct documentation for every expense.
- Enter these costs into your annual income tax return.
- Store all physical or digital copies of your receipts for at least five years.