Accessing your tax statement
Here’s how we make this time of year a little less taxing for you.
You can access your Tax Statement in the member area from approximately 20 July 2020.
Frank also sends your tax information to the Australian Taxation Office so it will be pre-filled when you complete your tax return. If you lodge your tax return online, your health insurance tax information should populate automatically by 20 July.
If your health fund details are not populated by 20 July, or you lodge your tax return on paper, you may need to download your statement from the member area or contact Frank to request a statement.
Frequently Asked Questions
If you need help understanding your statement check out our sample Tax Statement.
Each adult that was listed on the membership during this financial year can access a statement, even if you have cancelled your cover. This doesn’t include dependants over the age of 18.
Dependants don’t get their own statement as they can’t claim the rebate.
If you need a Tax Statement, you will need to get it from one of the adults covered on the policy.
Your Tax Statement will only show the payments Frank received during the last financial year. Anything paid before 30 June 2018 won’t show on this Tax Statement.
Because of the change to the rebate that is calculated on 1 April each year, there are two rows of information on your statement. Each row will have a different benefit code, which indicates the level of rebate you are entitled to based on your age.
The LHC loading is a Federal Government initiative to encourage younger people to take out hospital cover. A 2% loading is applied to your base premium for each year you are aged over 30 and don’t have eligible hospital cover. If you pay a loading, this information would have been communicated to you in your premium change notification. You won't receive a seperate statement.
Find out more about the LHC.
Your CAE is based on the age you were on 1 July before you first took out hospital cover. This is used to calculate your LHC loading.
This is any time that you haven’t held hospital cover during the financial year. This could be due to joining during the year, change of cover or the cancellation of your membership.
Your Tax Statement has been amended as one of the following changes have been made to your membership since we issued your previous Tax Statement in the member area.
Refunds - If a refund was made in this financial year for premiums received in the previous financial year.
Dishonour of premiums - If a dishonour of a receipt was processed this financial year for a payment that was received in the previous financial year.
Disbursing a receipt - If a receipt received in the previous financial year is reversed and transferred to another membership.
Backdated Membership Cancellation - If a cancellation of a policy was processed this financial year, but the cancellation effective date was last financial year.
Backdated person changes - If the effective date for adding or removing a person was last financial year, but it was processed this financial year.
Backdated plan change where hospital cover was dropped or added - If hospital cover was removed this financial year, but the effective date of the change was last financial year.
If you are a Frank OVHC member, you will not receive a Tax Statement as you are not eligible for the private health insurance rebate.
Find more information about how to complete your tax return if you’re an overseas visitor.
For more information about your Tax Statement:
- contact your tax professional
- call the ATO on 13 28 61 or visit the ATO website.
Frank member area
Submit claims online, check your extras balance, update your details or download your tax statement.