Government Rebate

Government Rebate

The Australian Government Rebate on private health insurance helps reduce the cost of health insurance premiums.

The Australian Government Rebate on Private Health Insurance helps reduce the cost of health insurance premiums. The Rebate you are entitled to will depend on your income and age.

 

The Australian Taxation Office has specific rules regarding how to define your income for Australian Government Rebate purposes.

Single people with a taxable income of less than $90,000 per annum and families/couples with a taxable income of less than $180,000 per annum (threshold increases $1500 per child after the first child) will not be affected and no action is required.

 

Income thresholds, age and the respective Rebate entitlements.

  Unchanged Tier 1 Tier 2 Tier 4
Singles Up to $90,000 $90,001 - $105,000 $105,001 - $140,000 $140,001 +
Families Up to $180,000 $180,001 - $210,000 $210,001 - $280,000 $280,001 +
Age Rebate
Aged under 65 25.934% 17.289% 8.644% 0.00%
Aged 65-69  30.256% 21.612%   12.966% 0.00%
Aged 70 and over 34.579% 25.934% 17.289% 0.00%

 

What to do if you believe you are affected by the changes to the Rebate.

 

If you believe you are affected by the changes to the Rebate you can:

  1. Do nothing. Continue to claim your current level of Rebate and it will be taken into account when you lodge your tax return.
  2. Nominate your Rebate entitlement to avoid a tax liability when you lodge your tax return. Latrobe members simply log into our Online Member Services and nominate your chosen Rebate entitlement or contact us.

The above tiers are effective from 1 April 2017. For more information on income thresholds, Latrobe encourages members to visit health.gov.au or consult their tax/financial advisor. Alternatively, you can calculate your income by using the calculator at ato.gov.au.