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Private Health Insurance Rebate Statements

Thursday, 30 June 2016

Private Health Insurance Rebate Statements will be issued again this year to all policy holders to assist in the completion of their 2015 – 2016 tax returns. If you have held cover with us and/or paid a premium during the last financial year you should receive your statement by 15 July 2016. Alternatively, the statements will be available for download from online member services from 5 July 2016.

The statement includes information required by the Australian Taxation Office (ATO) in regards to the income testing of the Australian Government Rebate on private health insurance. The ATO requires that a statement must be issued to each adult on a policy showing their share of the premium paid and where applicable their share of any rebate claimed as a premium reduction.

The Australian Government adjusts the Rebate percentages on 1 April each year. If you paid premiums for your policy before 1 April 2016 and on or after 1 April 2016, the table in the statement will contain at least two lines of information. The ATO will require this information to calculate your rebate entitlement.

The statement includes all premiums, which have been received and processed by St.LukesHealth up to 30 June 2016. If you have not claimed the Australian Government Rebate on private health insurance as a premium reduction, you may be able to claim an entitlement on your 2015 - 2016 income tax return, subject to the income test.

If you have claimed the rebate as a premium reduction, the ATO will assess your rebate entitlement based on your taxable income when you lodge your 2015-2016 tax return. If you are eligible for a different level of rebate to the level you have claimed as a premium reduction, an adjustment will be made by the ATO when processing your tax return.

For further information on using the statement to complete your 2015-2016 tax return and for a detailed explanation of the information shown on your statement, visit the ATO web site here. 

For information on how the income testing of the rebate may affect your individual circumstances, consult your tax advisor or contact the ATO on 13 28 61. 

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