Important information for tax time.
It's that time of year again! In coming weeks many people will be preparing their tax returns for the 2011/12 financial year end.
From 12th July onwards, we will be mailing out all the information you need to complete the relevant private health insurance sections of your tax return.
This year, you will receive up to three statements, depending on the product(s) you hold and if you have claimed on their cover during the past financial year.
Your Private Health Insurance Statement
Your Member Benefit Statement *
Your Membership Summary
* This statement will also assist you in determining whether your out of pocket health expenses are eligible for the Net Medical Expenses Tax Offset
1. Your annual Private Health Insurance Statement (1 July 2011 - 30 June 2012)
Your HIF Private Health Insurance Statement ("Tax Statement") contains all the information you will need to complete the Private Health Insurance sections of your tax return.
2. Your annual Member Benefit Statement
This statement provides details of all private health insurance claims made against your membership during the 2011/12 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 have been received as recorded.
3. Your annual Membership Summary
If you held a level of HIF hospital cover during the financial year, HIF is required to send you a Lifetime Health Cover (LHC) Annual Statement. Your LHC Statement shows the adults covered by a HIF hospital product during the statement period, as well as any LHC premium loadings and/or periods of absence (any days without hospital cover) that may apply
If you did not receive one of the statements listed above by 20 July 2012 but believe you should have, or you have a query regarding your statement, please call us on 1300 13 40 60.
For further tax information...
Please contact the Australian Tax Office (ATO) on 13 28 61, visit the ATO website or speak to your tax accountant. You can also browse our website for more information on the Federal Government Rebate, Lifetime Health Cover age loading or the Medicare Levy Surcharge