Private Health Insurance Act 2007

Pt 2-2 heading substituted by No 105 of 2013, s 3 and Sch 2 item 3, effective 1 July 2013. The heading formerly read:

PART 2-2 - PREMIUMS REDUCTION AND INCENTIVE PAYMENTS SCHEMES

Div 22 inserted by No 26 of 2012, s 3 and Sch 1 item 10, applicable in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012.

Subdiv 22-B inserted by No 26 of 2012, s 3 and Sch 1 item 10, applicable in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012.

S 22-45(1) substituted by No 52 of 2021, s 3 and Sch 1 item 3, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. S 22-45(1) formerly read:

22-45(1)
This section applies in relation to an amount mentioned in section 22-35 (Private health insurance singles thresholds).

S 22-45(2) substituted by No 52 of 2021, s 3 and Sch 1 items 4 and 5, by substituting para (a) and examples 1 and 2, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. Para (a), examples 1 and 2 formerly read:

(a) firstly:

(i) if the amount is mentioned in subsection 22-35(1) (singles tier 1 threshold) - multiplying the amount for the 2008-2009 financial year by its *indexation factor mentioned in subsection (4); or

(ii) if the amount is mentioned in subsection 22-35(2) or (3) (singles tier 2 threshold or singles tier 3 threshold) - multiplying the amount for the 2010-2011 financial year by its indexation factor mentioned in subsection (5); and

EXAMPLES

Example 1:

If the amount to be indexed is $90,000 and the indexation factor increases this to an indexed amount of $90,500, the indexed amount is rounded back down to $90,000.

Example 2:

If the amount to be indexed is $120,000 and the indexation factor increases this to an indexed amount of $121,500, the indexed amount is rounded down to $121,000.

S 22-45(3) substituted by No 52 of 2021, s 3 and Sch 1 item 6, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. S 22-45(3) formerly read:

22-45(3)
Do not index the amount if its indexation factor mentioned in subsection (4) or (5) is 1 or less.

S 22-45(3A) substituted by No 52 of 2021, s 3 and Sch 1 item 6, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. S 22-45(3A) formerly read:

22-45(3A)
Do not index the amount for the 2015-16, 2016-17, 2017-18, 2018-19, 2019-20 or 2020-21 financial year.

S 22-45(3A) amended by No 55 of 2016, s 3 and Sch 6 item 1, by substituting " , 2017-18, 2018-19, 2019-20 or 2020-21 " for " or 2017-18 " , effective 17 September 2016.

S 22-45(3A) inserted by No 123 of 2014, s 3 and Sch 1 item 1, effective 26 November 2014.

S 22-45(3B) repealed by No 52 of 2021, s 3 and Sch 1 item 6, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. S 22-45(3B) formerly read:

22-45(3B)
If the amount is not indexed for a financial year because of the operation of subsection (3A), the amount for the financial year is the amount for the most recent financial year for which the amount was indexed.

S 22-45(3B) inserted by No 123 of 2014, s 3 and Sch 1 item 1, effective 26 November 2014.

S 22-45(4) substituted by No 52 of 2021, s 3 and Sch 1 item 7, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. S 22-45(4) formerly read:

Indexation factor

22-45(4)
For indexation of the amount on an annual basis in accordance with subparagraph (2)(a)(i), the indexation factor is:

*Index number mentioned in subsection (7) for the *quarter ending on 31 December just before the start of the relevant financial year

*Index number mentioned in subsection (7) for the *quarter ending on 31 December 2007

S 22-45(5) repealed by No 52 of 2021, s 3 and Sch 1 item 8, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years. S 22-45(5) formerly read:

Indexation factor

22-45(5)
For indexation of the amount on an annual basis in accordance with subparagraph (2)(a)(ii), the indexation factor is:

*Index number mentioned in subsection (7) for the *quarter ending on 31 December just before the start of the relevant financial year

*Index number mentioned in subsection (7) for the *quarter ending on 31 December 2009

S 22-45(6) amended by No 52 of 2021, s 3 and Sch 1 item 9, by omitting " mentioned in subsection (4) or (5) " after " *indexation factor, effective 1 July 2021 and applicable in relation to the 2021-22 financial year and later financial years.

S 22-45 inserted by No 26 of 2012, s 3 and Sch 1 item 10, applicable in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012.