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Home » Tax FAQs

Tax FAQs

When will you send my tax and rebate statements?

All tax statements will be mailed to members by 15 July 2013 and will be available via online member services from 3 July 2013.

Can I download the tax statement from your website?

All tax statements will be available via online member services from 3 July 2013.

Why are the statements not available on 1 July 2013?

Tax statements must include details of all payments processed by Teachers Health Fund up to and including 30 June 2013. This means that we cannot begin preparing the statements until after that date.

Why have you sent me two tax statements, one is in the name of my partner/spouse?

Following the introduction of legislative changes, there are now new requirements for the tax statements that we issue to policy holders each year. All adults on the policy during the financial year will now receive an individual tax statement, rather than one statement per policy.

My statement doesn’t show the full amount that I paid for our health insurance last year; half is on my partner’s statement. Why?

Contributions and any rebates claimed during the financial year are divided between all adults on the policy. This is represented on each adult’s tax statement and is based on who was on the cover at the date the contribution was made to Teachers Health Fund.

Why are there so many line entries in my statements, it’s confusing, how am I meant to read it?

If your Australian Government Rebate on private health insurance tier has changed during the financial year, each rebate tier will be listed separately on the tax statement.

My ex-spouse has been sent a tax statement and received an allocation of the contributions I paid. Why?

All adults on the policy during the financial year will now receive an individual tax statement, rather than one statement per policy. Contributions and any rebates claimed during the financial year are divided between all adults on the policy. This is represented on each adult’s tax statement and is based on who was on the cover at the date the contribution was made to Teachers Health Fund.

How to I tell the total cost of the policy?

If you need to know the total cost of your policy you can add up your share of the contributions and your share of the Australian Government Rebate on private health insurance received (where applicable). If there was more than one adult covered on your cover at any time during the 2012/13 financial year you will also need to add the figures in these columns on your partner’s tax statement.

This statement doesn’t show any contribution payments for my health insurance this year. Why?

The tax statements only display monies received by Teachers Health Fund during the period 1 July 2012 to 30 June 2013. If you pre-paid your contributions in the 2011/12 financial up to 30 June 2013 then your tax statement for 2012/13 will not list these contributions.

The amount on my statement is wrong; I paid more than this last year. Why?

If you pre-paid your contributions in the 2011/12 financial up to 30 June 2013 then your tax statement for 2012/13 will not list these contributions. If you believe that you made payments during the 2012/13 period and they are not showing, please contact us on 1300 728 188.

Will my dependant children receive a rebate statement?

No, dependant children will not receive their own statement. Contributions and any rebates claimed during the financial year are divided between all adults on the policy.

Can I claim the rebate for the entire amount of contributions paid last financial year?

The level of rebate you are entitled to is based on your rebate tier. See below for further details on rebate tiers.

What do the rebate tiers mean?

Most Australians with private health insurance currently receive a rebate from the Australian Government towards the cost of their contributions. The Australian Government Rebate on private health insurance is income tested.

How do I calculate which tier I should nominate?

The income thresholds for the 2012/13 and 2013/14 financial years are as follows:

2012/13 Income Thresholds
Income Age under 65 Age 65-69 Age 70 or over
Base tier

Singles $84,000 or less

Couples/Families
$168,000 or less

30% 35% 40%
Tier 1

Singles $84,001 – $97,000

Couples/Families
$168,001 – $194,000

20% 25% 30%
Tier 2

Singles $97,001 – $130,000

Couples/Families
$194,001 – $260,000

10% 15% 20%
Tier 3

Singles More than $130,001

Couples/Families
More than $260,001

0% 0% 0%
2013/14 Income Thresholds
Income Age under 65 Age 65-69 Age 70 or over
Base tier

Singles $88,000 or less

Couples/Families
$176,000 or less

30% 35% 40%
Tier 1

Singles $88,001 – $102,000

Couples/Families
$176,001 – $204,000

20% 25% 30%
Tier 2

Singles $102,001 – $136,000

Couples/Families
$204,001 – $272,000

10% 15% 20%
Tier 3

Singles More than $136,001

Couples/Families
More than $272,001

0% 0% 0%

Note: Single parents and couples (including de facto couples) are subject to family tiers. For families with children, the thresholds are increased by $1,500 for each child after the first.

The tiers are based on your income for Medicare levy surcharge purposes. For more information and to use an income calculator contact the Australian Taxation Office on 132 861 or visit ato.gov.au. If your tier has changed for the 2013/14 financial year, don’t forget to let us know.

What happens if I have nominated the wrong tier?

If you nominate a tier that results in a lower rebate than your income entitles you to, you will receive a tax offset through your tax return at the end of the financial year.

If you nominate a tier that results in a higher rebate than your income entitles you to, you will incur a tax liability through your tax return at the end of the financial year. This means you could have a tax debt. There are no additional penalties for estimating incorrectly.

If you have any questions regarding the Australian Government Rebate on private health insurance, contact the Australian Taxation Office on 13 28 61.

What is the period of cover for the payments made on the tax and rebate statements?

1 July 2012 to 30 June 2013

Sending out all these tax statements in paper is a waste of money and resources. Do you have to do it?

Yes, this is a legislative requirement set by the Australian Government for all health insurance providers.

 

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Your Rebate

All Australian residents, who are entitled to Medicare, are able to claim an income tested rebate on their private health insurance; would you like to apply your rebate?

For individuals earning between $88,001 - $102,000 (or $176,001 - $204,000 for families*).
*For families with children, the thresholds are increased by $1,500 for each child after the first.

How rebate tiers workX

Most Australians with private health insurance currently receive a rebate from the Australian Government to help cover the cost of their premiums. The private health insurance rebate is income tested. The table below details the different rebate amounts and Medicare Levy Surcharge levels.

The rebate applies to hospital, general treatment and ambulance policies. It does not apply to overseas visitors cover. The rebate levels applicable for 1 July 2013 to 30 June 2014 are:

Singles
Families
≤$88,000
≤$176,000
≤$88,001-102,000
≤$176,001-204,000
≤$102,001-136,000
≤$204,001-272,000
≤$136,001
≤$272,001
Rebate
< Age 6530%20%10%0%
Age 65-6935%25%15%0%
Age 70+40%30%20%0%

Single parents and couples (including de facto couples) are subject to family tiers. For families with children, the thresholds are increased by $1,500 for each child after the first. http://www.privatehealth.gov.au/healthinsurance/incentivessurcharges/insurancerebate.htm