Reading the Tax Statement
Reading a tax statement can be tricky. Here’s a quick summary of what the key fields on your statement mean:
Health Insurer ID: A three-letter code used to identify each private health fund.
Membership Number: Your Transport Health membership number.
Your premiums eligible for the Australian Government Rebate: This is how much per person is eligible for the Australian Government Rebate on Private Health Insurance. (The ATO takes your hospital and extras cover premiums to get this number)
Your Australian Government Rebate received: This is how much you received from the government rebate.
Benefit code: This code is for the rebate. It identifies the age bracket people fall into.
Number of days this policy provides an appropriate level of private patient hospital cover: This is how many days of the year your policy provides an appropriate level of private patient hospital cover. If your statement says 365 (or 366 in a leap year) then you don’t need to pay MLS.