Private Health Insurance Act 2007

CHAPTER 6 - ADMINISTRATION  

PART 6-6 - PRIVATE HEALTH INSURANCE LEVIES  

Division 307 - Collection and recovery of private health insurance levies  

SECTION 307-5   LATE PAYMENT PENALTY  

307-5(1)    
If a ^[*]

To find definitions of asterisked terms, see the Dictionary in Schedule 1 .

private health insurance levy remains wholly or partly unpaid by a person after it becomes due and payable, the person is liable to pay a late payment penalty under this section.

307-5(2)    
The ^[*]

To find definitions of asterisked terms, see the Dictionary in Schedule 1 .

late payment penalty is calculated:

(a)    at the rate specified in the Private Health Insurance (Levy Administration) Rules (which must not be higher than 15%); and

(b)    on the unpaid amount of the levy; and

(c)    for the period:

(i) starting when the levy becomes due and payable; and

(ii) ending when the levy, and the penalty payable under this section, have been paid in full.