Hard to believe the end of financial year is already here again. You’ll be receiving your tax statement from us in early July so you can claim any entitlements as part of your annual tax return. In the meantime, here are our top tips for taking the pain out of tax time.
1. Welcome automation
Do you do your tax online or through a tax agent? We have great news! Health funds now send all your health insurance info for tax purposes directly through for your tax return. You don’t need to do a thing.
Who wants unnecessary paperwork? No one!
2. Check out our handy tax guide
Yes, yes, tax is boring, but it will be even less fun if you’re paying more than you have to! Make sure you check out our handy little guide and you just might end up paying less moolah to them (the Government), leaving more moolah for you. Not so boring now!
Get the low-down here.
3. Get the low-down on Government incentives
The Government is pretty keen for Australians to take out private hospital cover and relieve the stress on the public system. Plus, if you’re under 30, you can even bag an extra discount of up to 10%. Nice!
Depending on your income level, you could pay less tax or save on your premiums by having one of our hospital covers. Get more info on the benefits of private cover here.
4. Cover yourself if you’re 31+
Except in special circumstances, if you don't have hospital cover by 1 July following your 31st birthday, you could end up paying extra when you eventually do get it. Boo! It’s called a Lifetime Health Cover (LHC) loading and the longer you wait, the more you may have to pay. Eek!
You’d be amazed at how many 31 year olds rush to take out cover at 11:59pm on 30 June. So, don’t leave it to the last minute. Get researching and sort it, stat!
5. Waste not, want not!
It’s an oldie but still a goodie, and it applies to your Extras. How? Each financial year your existing benefits expire, so why not make the most of them before they refresh? #useitdontloseit
Lock in your appointments
Booking appointments last minute in June can be a bit like shopping for pressies in the week before Christmas. Make life easier and beat the rush!
Stop putting off the dreaded dental appointment. If you’re in The Gong you can book an appointment online at our Peoplecare Eyes & Teeth clinic, otherwise check out smile.com.au for a list of dental providers in your area (you’ll get a discount!).
Pick up your funky new specs
Need new specs? Get crackin’ and collect those zebra print glasses ASAP. Claims are paid based on the collection date, not the order date. If your specs aren’t collected before 1 July, the claim will come out of your next year’s limits. Go get those bad boys now!
Not sure what benefits you still have available? Check with Larry (our mobile app), log in to OMS or simply give us a buzz on 1800 808 690.