Important Changes for Completing 2013 Individual Tax Returns

Private Health Insurance Rebate

From 1 July 2012 private insurance premiums are income tested to determine entitlements to the private health insurance rebate.

As a result, in completing your 2013 income tax returns it will be necessary for us to have a copy of your Private Health Insurance Statement for the period 1 July 2012 to 30 June 2013.

Clients must ensure that private health insurance statements are provided when supplying the information for preparation of their 2013 tax returns to ensure no delays or extra costs in preparation are incurred.

Income Tax Refunds for Individuals

From 1 July 2013, the Australian Taxation Office will only remit tax refunds for individuals directly into an Australian bank account.

The refunds will only be sent to a bank account in either the taxpayer’s individual name, a jointly held account’s name or into the Tax Agent’s Trust Account.

Clients must ensure bank account details are provided when supplying the information for preparation of their 2013 tax returns to ensure no delays or extra costs in preparation are incurred.