Tax statements explained

Have a question? Check out our FAQs below for more information.

How to read your tax statement

Everything you need to know about interpreting your tax statement and using that information to fill in your tax return.

What does B mean?

On April 1 each year, rebate percentages are adjusted as per Australian Government legislation. This means if you have made payments on your policy before, upon, or after, April 1, that information will be listed on separate lines in your statement (with a different benefit code). Please ensure you enter each line separately in your tax statement.

B HBF

What does J mean?

Your share of the premiums that are eligible for the Australian Government Rebate. This amount excludes any Lifetime Health Cover loading you have paid (if applicable). Any adults covered on the policy when payments were made are allocated an equal share.

J $1500

What does K mean?

The amount the Government has paid towards your share of the policy. If you're not registered for the Australian Government Rebate on private health insurance as a premium or are on Tier 3 of the income bracket, this amount will be $0.

K $450

What does L mean?

This code represents the rebate you are entitled to, based on your age.

L 30

What does A mean?

The number of days you had private hospital cover in the last financial year. If this amount is less than 365 days, and you earn above the income threshold, you may have to pay the Medicare Levy Surcharge.

A 365
Sample tax statement

Common FAQs to help you during tax time

For tax purposes, any rebate entitlements and payments are split equally between adults on the policy (excluding dependent children). This means we need to issue separate tax statements to all adults covered on your policy this financial year.

You will not receive a tax statement if you are on an Overseas Visitors cover.

Your tax statement will be sent to you between mid-June and 14 July 2018.

If you have selected to receive important information electronically, we will email you once your tax statement is available.  And, if you have selected to receive important information by mail, it will be posted to you by 14 July 2018.

If you haven’t received your tax statement by this date, you can access a copy in myHBF.

We electronically store your tax statements in myHBF. If you need a copy of your 2017-18 tax statement or previous years’, just log into myHBF.

If you were covered by two polices during the tax year — for example, if you had your own policy and then moved onto your partner’s policy — you’ll be sent two separate tax statements.

When completing your tax return, you’ll need to include the figures from each tax statement.

An adjusted tax statement is automatically sent to you when a change is made to your HBF membership that affects a previous financial year. If this change affects any of the information on your statement, such as the eligible premiums, the rebate received, or the people covered on your membership (excluding dependent children), you will receive a new tax statement from HBF.

To update your rebate tier, log into myHBF and head to ‘Rebate details’ in the ‘Manage my cover’ tab. Alternatively, call us or visit your local branch and our friendly Member Relationship Consultants will be able to help you out.