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several items I don't understand

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Newbie

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Replies 3

Hi,
 
I received my tax bills from the ATO for the 2019-20 fiscal year. There is one item regarding my private insurance rebate called "excess private health reduction or refund (rebate reduced)" and numbered "a" and credited by the PAYG withholding "b". Thus I owed the ATO "a-b" as said by the bill. Then a next bill said the money owed had been paid by an item "Family tax benefit reconciliation credit for the 2020 income year". So it seems that I have nothing owed again? My question is what the "excess private health reduction or refund (rebate reduced)" is. My simple understanding is I got paid from my private insurance when I or my family member covered by the scheme visited doctors. Why should I still pay the reduction?
 
After I checked the ATO website for knowledge, the next question is where I can get my private health insurance statement. How can I understand the statement, taking account of the following items, e.g. my current premiums eligible for Australian Government rebate, my Australian Government rebate received, Benefit code and etc.
 
Thank you for your time reading this and I'm looking forward to your reply.
 
Best regards,
Peter
1 ACCEPTED SOLUTION

Accepted Solutions
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Most helpful response

Dynamo

Replies 0

Hi @peterming,

 

Thank you for contacting us.

 

If you received the statement from the Private health insurance please check against your lodged tax return to find out if they align. If not you can amend the tax return through your myGov account to fix the issue, which will take some time to process, but will eventually balance things out. 

 

Hope this helps.

3 REPLIES 3
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Devotee

Replies 1

You are right you will need to get a copy of your private health insurance statement to check the amounts and make sure the rebate was paid / claimed directly and compare it to what was prefilled in your tax return.
You’ll have to contact your private health insurer for that. I’m not sure about the family tac benefit line, but it sounds like you were due a refund from
Centrelink for your ftb following the annual reconciliation but this was taken to offset your tax debt.
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Newbie

Replies 0

Dear Iheartrefunds,

 

Thank you for your reply which makes my understanding clearer. This morning I get a new email from the insurance saying that they have sent my 2020 tax statement to the ATO. Does that mean the ATO could revise their statement to me accordingly after they review the new statement from the insurer?

 

Regards,

Peter

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Most helpful response

Dynamo

Replies 0

Hi @peterming,

 

Thank you for contacting us.

 

If you received the statement from the Private health insurance please check against your lodged tax return to find out if they align. If not you can amend the tax return through your myGov account to fix the issue, which will take some time to process, but will eventually balance things out. 

 

Hope this helps.