Taxpayers who earn greater than $130k (singles) and $260k (families) will lose the 30% private health insurance rebate. There is a sliding scale in the reduction commencing from earning more than $84k (singles) and $168k (families).

Check with your health insurance provider as you may be able to prepay fees before June 30 at the current rate.

For example, a family on top health cover and earning over $258k income, the annual insurance premium is expected to rise by approximately $1,420 or $118 a month.

We understand that fees may be prepaid before June 30 for up to 2 years in advance, and will lock in the current year’s fees.

For more information visit Changes to Private Health Insurance .