Income Tax Assessment Act 1997

Pt 2-20 inserted by No 56 of 1997.

Div 61 inserted by No 56 of 1997.

Subdiv 61-G substituted for Subdiv 61-H by No 32 of 2007, s 3 and Sch 3 item 9, applicable in relation to the 2007-2008 income year and later income years.

Archived:

Former Subdiv 61-G repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 231, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

S 61-215 substituted by No 26 of 2012, s 3 and Sch 1 item 5, applicable in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012. No 26 of 2012, s 3 and Sch 1 item 48(2) contains the following application provision:

48 Application  
…

(2)
To avoid doubt, a choice under section 61-215 of the Income Tax Assessment Act 1997 , as substituted, does not have effect for a premium, or an amount in respect of a premium, paid before 1 July 2012.

S 61-215 formerly read:

SECTION 61-215 Tax offset after a person 65 years or over ceases to be covered by policy  
61-215(1)
If:

(a) at any time, the amount of a *tax offset in respect of premiums payable under an insurance policy (the original policy ) was 35% or 40% of the premiums payable under the policy because a person aged 65 years or over (the entitling person ) was insured under the original policy; and

(b) at that time, another person (other than a dependent child) was insured under the original policy; and

(c) the entitling person subsequently ceases to be insured under the policy;

subsections 61-210(1) and (2) apply in relation to a complying health insurance policy (whether or not the original policy) under which the other person is insured (other than for the purposes of working out the *incentive amount) as if:

(d) the entitling person were also insured under that policy; and

(e) the entitling person were the same age as the age at which he or she ceased to be insured under the original policy.

61-215(2)
Subsection (1) ceases to apply if a person (other than a dependent child) who was not insured under the original policy at the time the entitling person ceased to be insured under it becomes insured under the complying health insurance policy.

61-215(3)
Subsection (1) does not apply if its application would result in the amount of the *tax offset under subsection 61-210(1) or (2) being less than it would otherwise have been.

61-215(4)
Paragraph (1)(a) applies in relation to an amount of a *tax offset that is 35% or 40% of the premiums payable under an insurance policy whether the tax offset was available under this Subdivision or Subdivision 61-H as in force before 1 July 2007.

61-215(5)
In this section:

complying health insurance policy
has the same meaning as in the Private Health Insurance Act 2007 .

dependent child
:

(a) has the meaning given in the Private Health Insurance Act 2007 ; and

(b) in paragraph (1)(b), in relation to a time before 1 July 2007, includes a dependent child within the meaning of the Private Health Insurance Incentives Act 1998 .

S 61-215 inserted by No 32 of 2007, s 3 and Sch 3 item 9, applicable in relation to the 2007-2008 income year and later income years.