Private health insurance rebate no longer paid on lifetime health cover loading

Nov 22, 2012

The 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO) announced that from 1 July 2013, the private health insurance rebate will no longer be paid on any lifetime health cover loading applied to the cost of a private health insurance policy for lifetime health cover.

Lifetime health cover is not paid by all individuals - it is a penalty that applies where an individual has not taken out and maintained private health insurance from the year a person turns 31.

For more information, refer to MYEFO media release (number 099-2012) issued by the Treasurer and Deputy Prime Minister Wayne Swan.

Tags: Budget, Family, Personal tax

Author: Mr Taxman

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  • "Yes you show the km allowance as taxable income and then you can also make a claim for your car travel. Under the cents per kilometre method you are limited to the first 5000km. So if you get..."

    By: Mr Taxman at Jun 04, 2025 11:57PM

    Post: Claiming car expenses

  • "No would not be able to claim the Uber home nor to the station the next day. The trip to the off-sit meeting would be claimable."

    By: Mr Taxman at Jun 04, 2025 11:55PM

    Post: Claiming car expenses

  • "Depends on your finance type ... if you takeout a lease then the lease payment forms part of your costs (but no depreciation can be claimed) ... if you takeout a Hire Purchase or a Loan then only the..."

    By: Mr Taxman at Jun 04, 2025 11:54PM

    Post: Claiming car expenses

  • "The cost of the trailer itself could be depreciated - usually over 8 years. Assuming no personal usage with it then 100% of that depreciation plus annual rego could be claimed."

    By: Mr Taxman at Jun 04, 2025 11:50PM

    Post: Claiming car expenses

  • "That would be a non-deductible trip unfortunately Erin"

    By: Mr Taxman at Jun 04, 2025 11:48PM

    Post: Claiming car expenses