The private health insurance rebate is a percentage of the premium a registered health fund receives pay for to have the appropriate private health insurance cover.
The eligibility of your private health insurance rebate depends on your income. Overall, for those with high income, you may receive less or not be eligible for any rebate at all. Continue reading “Private Health Insurance Rebate”
Private Health Insurance Offset
The Private Health Insurance Offset also referred to as the Private Health Insurance Rebate, allows you a tax offset for a percentage of the premium you paid to a registered health insurer for a complying private health insurance policy. The percentage you can claim as an offset depends on the age of the oldest person the policy covers.
You can claim the Private Health Insurance Offset as a:
- Reduction in your private health insurance premium through your tax return
- Cash or cheque rebate from Medicare
- A refundable tax offset at the end of the income year through your tax return
- A combination of the preceding options, one for a different period of the year