IMAN health plans and tax
Jul 1st 2009, 2:20 pm
#1
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Thread Starter
Joined: Jul 2008
Posts: 281
IMAN health plans and tax
Hi,
i am on a 457visa and my employer pays for our health cover plans arranged from IMAN. I know that technically this is not classified as health insurance and therefore we are not eligible for health insurance rebate.
however, my question is what is the status of these plans for tax return purposes. the amounts are paid directly by my employer to IMAN and are not shown on my payslips. In my opinion, this has no tax consequence for me as employer has arranged to cover its legal obligations( as employers are responsible for 457visa holders medical expenses incurred in public hospitals).
can u guys please share ur thoughts on this
thanks
i am on a 457visa and my employer pays for our health cover plans arranged from IMAN. I know that technically this is not classified as health insurance and therefore we are not eligible for health insurance rebate.
however, my question is what is the status of these plans for tax return purposes. the amounts are paid directly by my employer to IMAN and are not shown on my payslips. In my opinion, this has no tax consequence for me as employer has arranged to cover its legal obligations( as employers are responsible for 457visa holders medical expenses incurred in public hospitals).
can u guys please share ur thoughts on this
thanks
Jul 2nd 2009, 12:38 am
#2
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Joined: Jul 2008
Posts: 1,048
Re: IMAN health plans and tax
Do you mean the medicare levy tax on your salary?
Jul 2nd 2009, 4:31 am
#3
Forum Regular
Thread Starter
Joined: Jul 2008
Posts: 281
Re: IMAN health plans and tax
I dont pay medicare levy, coz i am not eligible for medicare.
What i wanted to inquire was is IMAN health cover arranged by my employer is some sort of benefit which is taxable?. the annual premium paid directly by my employer to IMAN is around $4,000. In my opinion this is not a fringe benefit as it is not shown on my PAYG summaries
What i wanted to inquire was is IMAN health cover arranged by my employer is some sort of benefit which is taxable?. the annual premium paid directly by my employer to IMAN is around $4,000. In my opinion this is not a fringe benefit as it is not shown on my PAYG summaries
Jul 2nd 2009, 4:33 am
#4
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Joined: Mar 2009
Location: Kohimarama
Posts: 1,626
Re: IMAN health plans and tax
I dont pay medicare levy, coz i am not eligible for medicare.
What i wanted to inquire was is IMAN health cover arranged by my employer is some sort of benefit which is taxable?. the annual premium paid directly by my employer to IMAN is around $4,000. In my opinion this is not a fringe benefit as it is not shown on my PAYG summaries
What i wanted to inquire was is IMAN health cover arranged by my employer is some sort of benefit which is taxable?. the annual premium paid directly by my employer to IMAN is around $4,000. In my opinion this is not a fringe benefit as it is not shown on my PAYG summaries
