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This schedule can be pre-filled using the Pre-fill Manager. The Pre-fill Manager enables you to download pre-fill reports for clients using the Practitioner Lodgment Service (PLS). You can view these reports in PDF format, and populate the pre-fill information into the client's Tax return. For more information on pre-filling, see Pre-fill Manager. Tax Pre-fill will populate values directly into the fields in the phi.

 

Tax Pre-fill is dependant on available ATO data. Validate the Tax return by pressing [F3] for a list of the imported values and any errors before lodgment.

General information

To open this worksheet at Item (H)-Private health insurance policy details click any label at item H or press [Alt+S].

This worksheet is provided to assist in entering details from the Health Fund Statement and for selecting the correct Claim code for the Private Health Insurance Rebate. Selecting the correct tax claim code will ensure that MYOB Tax will calculate the correct Private health insurance rebate or Excess private health insurance reduction.

It is important for MYOB Tax to calculate correctly that you enter the Period 1 statement details in Period 1, likewise with Period 2. If you do not do this, your offset or reduced offset will be incorrect.

[F4] Estimate

Neither the ATO nor MYOB Tax will be required to calculate the adjusted rebate percentages. However, to check the estimate of the PHIR view the Tax rates and Parameters Tables by clicking MaintenanceTax Rates > Parameter Tables and select the Properties for the Master Individual Tax TableResident Rates > Medicate, MLS and PHI, refer to the Private health insurance rebate calculator on the ATO website.

Fund statement

Each member of a Health fund will be provided with a statement from the Fund containing in most instances 2 rows of information:

  • The first row will be for the first period of the income year, 1 July 2017 to 31 March 2018 and the Benefit code will be 30, 35 or 40 depending on the age of the oldest member on the policy.

  • The second row will be for the second period of the income year, 1 April 2017 to 30 June 2018 and the Benefit code will be 31, 36 or 41 depending on the age of the oldest member on the policy.

If a member paid the premiums up front for the whole year, then there will be one row on the statement and the Benefit code will be 30, 35 or 40.

Where the member joins the fund during the 4th quarter, there will be one row of information on the Fund statement and the Benefit code will be 31, 36 or 41.