M J Heywood & Co
Chartered Accountant
 

Address:
Suite 407
1 Princess St.
Kew, Vic. 3101

Phone:
613 9853 1234

Fax:
613 9853 1023

Email us

Liability limited by a scheme approved under Professional Standards Legislation

 Latest Accounting News Service
Hot Issues
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Checklist - Individuals Tax Returns - 2017
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Quarter 2 of 2005
Articles
Private Health Insurance ? Reduced Premium
Higher Education Contribution Scheme and Income Tax
Absorption Costing for Retail and Wholesale Industries ? Update
Workplace Insurance ? Different Locations
Retirement is heading for an extreme makeover.
Superannuation Surcharge Abolished? ? Action Now
$500 Incentive for Mature Age Workers
Children?s Bank Accounts and Tax File Numbers
Superannuation Contributions ? Double Jeopardy
Private Health Insurance ? Reduced Premium
Older Australians will be entitled to a reduced Health Insurance Premium from 1st April 2005.

An increase in the Private Health Insurance Rebate from 30% to 35% for policies covering at least one person aged 65 to 69 years and from 30% to 40% for policies covering at least one person aged 70 or older now are now effective.

These measures were announced last August and were given Royal Assent in February and take effect on 1st April 2005.  The health fund is able to claim a higher part of the premium from the government and reduce the cost of the customer.

There is a fear that some Health Insurance Funds are unable to pass this savings on to policy holders, because they don?t know how to identify the relevant customers.

It is highly recommended that eligible persons contact their insurer to take advantage of this savings without delay.  You should not rely upon your Health Insurance provider implementing this without your prompting.












10th-June-2005