Important Information for Tax Time
It’s that time of the year again. In the coming weeks many people will be preparing their tax returns for the 2009/2010 financial year end.
During the second week of July 2010 HIF will mail to you the information you need to complete the relevant private health insurance sections of your tax return.
This year’s information pack will include:
1. Your Private Health Insurance Statement (1 July 2009 to 30 June 2010)
Your HIF Private Health Insurance Statement (“Tax Statement”) contains information that you will need to complete the Private Health Insurance sections of your tax return.
Find out more about your Tax Statement.
2. Your Annual Member Benefit Statement
This statement provides details of all private health insurance claims made against your membership during the financial year. The details include the claim type, patient, provider, date of service, type of service, fee charged and benefits received.
It is important for you to check that services, provider fees and benefits paid have been received as recorded. This statement will also assist you in determining whether your out of pocket health expenses are eligible for the Net Medical Expenses Tax Offset.
Please note that health providers and hospitals sometimes send duplicated claims to health insurers and in these cases the claim may be recorded on your Member Benefit Statement. The fees listed in duplicated claims should not be included in any submission for the Net Medical Expenses Tax Offset.
Find out more about the Net Medical Expenses Tax Offset and how you can maximise your tax effectiveness.
3. Your Annual Membership Summary
If you held a HIF hospital policy during the 2009/2010 financial year you will also receive an Annual Membership Summary including Lifetime Health Cover Information statement. HIF is required by law to provide you with this statement for your information. It is not required for the completion of your tax return.
If you do not receive your HIF annual taxation and membership information by 15 July 2010, please contact us on1300 13 40 60 or email info@hif.com.au