Understanding your 2018/19 HIF tax statement.
If you paid premiums for your policy before, on, or after 1 April 2019, 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 2018-19 tax statement template).
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. All adults on your membership at the time of a payment are eligible for a portion of the rebate, so we'll send a tax statement to each adult on your membership (except for dependent children).
What do all the different codes mean?
|A||The number of days an appropriate level of private hospital cover was held in the 2018/19 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 rebate amount contributed to your premiums by the Government.|
|L||The rebate you're entitled to based on your age (not accounting for means-testing). Benefit codes 30, 35 & 40 apply for any premiums paid between 01/07/18 - 31/03/19 before the rebate was indexed on April 1. Benefit codes 31, 36 & 41 apply for any premiums paid between 01/04/19 - 30/06/19.|
|M2||The Medicare Levy Surcharge is an additional tax for Australians who didn’t hold a domestic private hospital insurance policy for at least 65 days in 2018/19 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.
- If you haven't received your tax statement by 29 July 2019 but believe you should have, or you have a query regarding your statement, please call us on 1300 13 40 60 or email firstname.lastname@example.org.
- If you're an Overseas Visitor holding a Working Visa Hospital Cover you will not receive a Tax Statement or LHC Statement, as you're not entitled to claim a rebate 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 a 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 further tax information: