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

Comments

Post a New Comment

comments-rhsLatest Comments

  • "I was in total dismay when I lost my entire savings investing in cryptocurrency, I was contacted online by a lady through email pretending to be an account manager of a bank, who told me I could make..."

    By: Nathalie at Apr 25, 2024 10:09AM

    Post: The Full Cost of Motoring in Australia

  • "Introducing CYBERPUNK Recovery, a top-tier group committed to safeguarding and retrieving your priceless Bitcoin holdings. The necessity of strong security protocols and dependable recovery solutions..."

    By: Rina at Apr 25, 2024 10:06AM

    Post: The Full Cost of Motoring in Australia

  • "Hello everyone my names are ALEX JACKSON from the UK, I want to use this golden medium to appreciate Doctor Abdul a great spell caster for helping me retrieving back my relationship with my ex lover..."

    By: alex at Apr 25, 2024 4:47AM

    Post: The Full Cost of Motoring in Australia

  • "Hello everyone my names are ALEX JACKSON from the UK, I want to use this golden medium to appreciate Doctor Abdul a great spell caster for helping me retrieving back my relationship with my ex lover..."

    By: alex at Apr 25, 2024 4:19AM

    Post: Unusual work from home expense you can claim a tax deduction for

  • "I am James Oliver by name. Greetings to everyone that is reading this testimony. I have been rejected by my husband after three(3) years of marriage just because another woman had a spell on him and..."

    By: James at Apr 25, 2024 1:40AM

    Post: 2022/23 fee schedule