Do you understand the interaction between private health insurance and the tax you pay?

The choice to purchase or abstain from private health insurance can have significant tax implications. Follow three taxpayers to understand how to avoid unexpectedly owing additional tax yourself.

Recently-legislated changes to the low and middle income tax offset have many taxpayers enjoying an unexpected refund, but for others, the surprise in their Notice of Assessment (NOA) hasn’t been as positive.For many, the source of their additional tax is the complex system of private health insurance and the corresponding impact to individual income tax in Australia.Penelope: The high income earnerNathan: The UK expatTiffany: The expat-turned permanent residentThe basicsIn Australia, each ta...

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Authors: Ursula Lepporoli

Published Date: 08 August 2019