Understanding your 2021/22 HIF tax statement.
Will I receive a tax statement for the 2021/2022 financial year?
As Australia's first certified carbon neutral health fund, we are committed to reducing our carbon footprint. It’s why each tax time we save on paper and send your tax statement information direct to the Australian Taxation Office.
Your HIF tax statement will also be automatically available in the ATO myGov portal after 20 July 2022. Your tax return will not show this information until after this date. If you wish to lodge your tax statement prior this, you will need to manually enter your private health information after downloading it from our Online Member Centre portal from 4 July 2022.
Can I still get a copy of my tax statement?
Yes you sure can. It’s super easy to access your 2021/22 member tax statement by simply downloading it from our Online Member Centre portal from 4 July 2022. For more information about your HIF tax statement or for any statements produced prior to 2019, please contact us to request copies.
Why are other people listed on my tax statement?
Other people may also be listed on your statement if you held a couple or family policy this year. This can include people who are no longer HIF Members, or who have passed away during this financial year.
What do all the different codes mean?
If you paid premiums for your policy before, on, or after 1 April 2021, you may see more than one line of information on your tax statement. Please see below for an example of what the different rows of information represent (based on a 2021-22 tax statement template).
|A||The number of days an appropriate level of private hospital cover was held in the 2021/22 financial year. If the number is less than 365, you may need to pay the Medicare Levy Surcharge (consult your tax agent or the ATO for more information).|
|B||Your health insurer (HIF).|
|C||Your HIF membership number.|
|J||The total cost of your premiums eligible for Australian Government rebate.|
|K||The Australian Government Rebate on Private Health Insurance amount contributed to your premiums by the Government.|
|L||The Australian Government Rebate on Private Health Insurance you're entitled to based on your age (not accounting for means-testing). Benefit codes 30, 35 & 40 apply for any premiums paid between 01/07/21 - 31/03/22 before the rebate was indexed on April 1. Benefit codes 31, 36 & 41 apply for any premiums paid between 01/04/22 - 30/06/22.|
|M2||The Medicare Levy Surcharge is an additional tax for Australians who didn’t hold a domestic private hospital insurance policy for at least 365 days in 2021/22 and earned above $90,000 as a single or $180,000 for couples and families. |
Important please note:
- The benefit code that appears on your tax statement varies depending on the income tier that is applicable to you.
- Your tax statement will be available in the Online Member Centre portal from 4 July 2022.
- If you haven't received your tax statement by 29 July 2022 but believe you should have, or you have a query regarding your statement, please call us on 1300 134 060 or email email@example.com.
- If you're an Overseas Visitor holding a Working Visa Hospital Cover you will not receive a Tax Statement, as you're not entitled to claim an Australian Government Rebate on Private Health Insurance on this level of cover. If you're an Overseas Visitor from a reciprocal country which has a health care agreement with Australia, you may be entitled to receive an Australian Government Rebate on Private Health Insurance rebate on the Extras component of your cover. The following countries have a reciprocal health care agreement with Australia: New Zealand, the United Kingdom, the Republic of Ireland, Sweden, the Netherlands, Finland, Italy, Belgium, Malta, Slovenia and Norway. We recommend you contact your tax adviser or the Australian Taxation Office to discuss this.
- For any statements produced prior to 2019, please contact us to request copies.
For further tax information: