What you need to know about tax time
Accessing your tax statement
Here’s how we make this time of year a little less taxing for you.
Frank sends your health insurance tax information to the Australian Taxation Office so it can be pre-filled in your tax return. If you lodge your tax return online or through a registered tax agent, your information will populate automatically.
A copy of your tax statement will be available to download in member area by 1 August, if you still need one. We'll send you an SMS once it's ready.
We’ll also pop an update on socials to keep you across it: Frank Health Insurance - Home | Facebook
Frequently Asked Questions
Health funds are required by the Australian Government to provide your health insurance tax information directly to the ATO to be pre-filled in your tax return when you lodge online or through a registered tax agent, so you likely won't need a copy. Statements have not been sent since the 2019 Australian Government private health insurance reforms.
If you still need one, a copy will be available in your member area by 1 August. We’ll send you an SMS as soon as it's ready, so please make sure your mobile number is up to date in your member area so we can keep you in the loop.
No longer a Frank member?
You'll still be issued a tax statement if you held Frank hospital cover during the relevant financial year and you paid a premium towards this.
You don’t need to do anything. We’ll send your private health insurance statement information directly to the ATO to be pre-filled. If you still need a statement copy, you can download it from your member area by 1 August (you still have access to this). We'll send you an SMS when statements are ready to download, so it's a good idea to log in earlier and check that your mobile number is still up to date.
If you need a Tax Statement, you will need to get it from one of the adults covered on the policy.
Find out more about the LHC.
Refunds - If a refund was made in this financial year for premiums received in the previous financial year.
Dishonour of premiums - If a dishonour of a receipt was processed this financial year for a payment that was received in the previous financial year.
Disbursing a receipt - If a receipt received in the previous financial year is reversed and transferred to another membership.
Backdated Membership Cancellation - If a cancellation of a policy was processed this financial year, but the cancellation effective date was last financial year.
Backdated person changes - If the effective date for adding or removing a person was last financial year, but it was processed this financial year.
Backdated plan change where hospital cover was dropped or added - If hospital cover was removed this financial year, but the effective date of the change was last financial year.
Find more information about how to complete your tax return if you’re an overseas visitor.
- Premiums you have paid to Frank during the financial year that are eligible for the Australian Government Rebate
- Amount of rebate that you received during the financial year
- Number of days you held an approved level of Private Hospital cover during the financial year (Label A on your statement). This will help you see if you have to pay an extra Medicare Levy Surcharge
- If you are the policyholder, your statement will include the details of any other adults who were on your policy at any point during the financial year (called ‘other adult beneficiaries’). If you were covered on another policy (a partner, for example), then their details will also be on your statement.
For more information on how to read your private health insurance statement, see this ATO guide: Your private health insurance statement | Australian Taxation Office (ato.gov.au)
Frank lodges all member tax statement info with the ATO as soon as possible each year, by mid-July at the latest. It then sits with the ATO to add the data to each individual tax account as pre-fill information. It can sometimes take a little while for the pre-fill data to populate in your tax return, but this is an ATO process outside of our control. For this reason, if you can, waiting until August to do your tax return can save you the hassle of collecting all of your tax statements and entering them manually.
Frank will SMS you by 1 August when your tax statement is available for download in the member area, in case you still need a copy.
For more information about your Tax Statement:
- contact your tax professional
- call the ATO on 13 28 61 or visit the ATO website
Frank member area
Submit claims online, check your extras balance, update your details or download your tax statement.
