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How to work out your private health insurance tax offset

Last updated 28 June 2011

Step 1

Add up all the amounts shown at G on your statements.

Step 2

Deduct any cash or cheque rebates you received from Medicare for your private health insurance premiums.

Step 3

If the result from step 2 is $0 or a negative amount, you have already received your full entitlement.

Otherwise, the result from step 2 is the amount you are entitled to claim.

If you and another person made payments for the same policy (for example, from a joint bank account) you can each claim the proportion of the amount you worked out at step 2 that reflects the amount of the premiums that you paid.

If you do not have a private health insurance statement

It is better if you complete this item using the annual statement which health insurers give to all policy holders.

However, if you cannot get a statement, or if your statement shows a total amount expected to be paid during the year which is different to the total amount actually paid (for example, you did not make one of the expected payments) you can use one of the following worksheets to help you calculate your tax offset.

Use Worksheet 1 if your tax offset percentage did not change during the period the payments cover.

Use Worksheet 2 if your tax offset percentage changed during the period the payments cover - for example, a person covered by the policy turned 65 or 70 years old.

Worksheet 1 - Use if your tax offset percentage did not change during the period the payments cover.

Total premiums paid during 2010-11 for the policy before any premium reduction from your health insurer or rebate from Medicare

(a)

$_________

Your tax offset percentage

(b)

_________%

Multiply (a) by the percentage shown at (b)

(c)

__________

Amount, if any, of premium reduction from your health insurer or of rebate from Medicare

(d)

__________

Take (d) away from (c)

(e)

__________

The amount at (e) is what you are entitled to claim. If (e) is 0 or a negative amount, you have already received your full entitlement. Go to item T6.

Worksheet 2 - Use if your tax offset percentage changed during the period the payments cover.

Total premiums paid during 2010-11 for the policy before any premium reduction from your health insurer or rebate from Medicare

(a)

$___________

Number of days the amount shown at (a) covers

(b)

___________

   

Column 1
Tax offset for first period

 

Column 2
Tax offset for second period

Your tax offset percentages for the days shown at (b)

(c)

___________%

(c)

___________%

Number of days to which the tax offset percentages at (c) apply

(d)

___________

(d)

___________

Multiply (a) by (d)

(e)

$___________

(e)

$___________

Divide (e) by (b)

(f)

$___________

(f)

$___________

Multiply (f) by the percentage shown at (c)

(g)

$___________

(g)

$___________

Add (g) column 1 and (g) column 2

(h)

$___________

   

Amount, if any, of premium reduction from your health insurer or of rebate from Medicare

(i)

$___________

   

Take (i) away from (h)

(j)

$___________

   

*Add another column if your tax offset percentage changed more than once.

The amount at (j) is what you are entitled to claim. If (j) is 0 or a negative amount, you have already received your full entitlement. Go to item T6.

QC25482