How to get your tax statement
Once your statement is ready, there are a number of ways you’ll be able to access it.
For overseas visitor cover- If you’re on an overseas visitor cover, or on a working visa cover, you don’t need a Medibank Tax Statement for your tax return.
Your documents explained
The information below will help you get a better understanding of how to use your tax statement to lodge this year’s tax return.
Here’s a helpful guide
To make tax time as simple and straightforward as possible, we’ve put together a “how to read guide” that shows you where all the information goes on your tax return.
Depending on your circumstances, you may also receive the following documents along with your tax statement. Unlike the tax statement, you won’t need these to complete your tax return.
Lifetime Health Cover (LHC) Statement
The Lifetime Health Cover statement is a mandatory document that’s sent to all health fund customers who have a Lifetime Health Cover loading on their policy.
The LHC is a Federal Government initiative where a ‘loading’ can be applied to your premium if you take out hospital cover later in life. It acts as an incentive for people to take out hospital cover at an earlier age and maintain it. You can read more about the LHC here.
Please note, the LHC loading doesn’t qualify for the Australian Government Rebate on private health insurance.
Standard Information Statement (SIS)
The SIS is sent out to members who are also the policy holder. It contains a summary of your cover, outlining its key features, general waiting periods, benefits and exclusions.
The information and design of the SIS is standardised across all health funds, making it easier for people to compare like for like, to make an informed choice when choosing health cover.
Frequently asked questions
Your statement will be available to view and download in My Medibank (previously Online Member Services) from 15 July 2017. We will also send your statement to you via email or post as soon as it’s ready.
You can download a copy of your tax statement at My Medibank.You can also view it via the Medibank App. If your preferred method of communication with us is through the post, we’ll also mail a copy to you. If it’s email, we’ll also email a copy to you. You can set or change your preferred method of communication at My Medibank.
We’ll contact you directly via SMS or email if your statement will be delayed. As soon as it’s available, you’ll be able to download it from My Medibank.
No. Since you aren’t eligible to receive the Australian Government Rebate (AGR), you don’t need this information for your tax return.
Because the Australian Government Rebate (AGR) amount that is applied to your policy changes in April each year, your tax statement will show the amounts for before and after this change over multiple lines. Also, if a person on the policy has turned 65 or 70, another line will be added to show their new rebate.
We’ve created a guide on how to read your tax statement. If this still doesn’t answer your question, please call us on 132 331 and we’ll be happy to help.
Unfortunately we can’t share this information over the phone. Please refer to the Australian Tax Office website for advice on how to gather your tax information.
Yes. Your health insurance tax statement for 1 July 2016 to 30 June 2017 is needed to complete your tax return as it outlines the benefit you may be eligible to receive as part of the Australian Government Rebate. However, if you're on an overseas visitor cover, or on a working visa cover, you don't need a Medibank Tax Statement for your tax return.
To encourage Australians to take out private health insurance and to make it more affordable, the government may offer a rebate on health cover premiums known as the Australian Government Rebate (AGR). Read more about the AGR and how it’s calculated.
Want to know more?
If there are any other questions you’d like answered, call us on 132 331 or visit us in store. If you’d like a copy of last year’s tax statement visit My Medibank.
Contact the Australian Taxation Office
If you have any tax-related questions or need help completing your tax return, contact the Australian Taxation Office on 132 861 or visit ato.gov.au
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