thread: HFC

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  1. #5
    Registered User

    Aug 2006
    178

    Hi Sassy123,

    Your health fund should send you a statement at end of financial year that shows
    - the health funds ID
    - the type of cover your had
    - how many days you were covered in the financial year
    - the premium claimable rebate on PHI (after premium reductions)

    The rebate is the federal government rebate of 30% - most people claim this as a reduced premium paid to their health fund e,g. if the total cost of your policy is $300, your rebate is $90 (30%) and you pay your fund $210.
    But if you didn't do this (most people do) and paid say the full $300 then you will have a rebate amount claimable in your tax return of $90.

    You pay a medicare levy surcharge of an extra 1% of taxable income if you earn over $70000 and have no private health insurance hospital cover - or $140,000 if you are a couple.

    My guess is you don't have a taxable income over $70k (or together with your husband over $140k) so your accountant didn't need your details as your wouldn't have been charged the surcharge. I also think your accountant has assumed you have already received your 30% govt rebate as premium reductions.

    check your last tax return. Send your Private Health Insurance statement (when it comes) in with this years tax.

    you can PM me if you need more information or want to ask specifics.

    Hope this helps a little - I'm afraid it may have got a bit too techinical - sorry if it seems that way
    Last edited by infinity; July 13th, 2009 at 04:04 PM. : spelling!