INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-20 - TAX OFFSETS  

Division 61 - Generally applicable tax offsets  

Subdivision 61-G - Private health insurance offset complementary to Private Health Insurance Incentives Act 1997  

Operative provisions

SECTION 61-305 (ARCHIVE)   Entitlement to the private health insurance tax offset  

61-305(1)    
You are entitled to a *tax offset for an income year in respect of premiums paid under a private health insurance policy (within the meaning of the Private Health Insurance Incentives Act 1997 ) if:

(a) the policy was one in respect of which you were eligible under Division 3 of the Private Health Insurance Incentives Act 1997 to participate in the incentives scheme (within the meaning of that Act); or

(b) the policy was one in respect of which another person was so eligible, but your taxable income for that year was required by subsection 3-3(2) or 3-4(2) of that Act to be taken into account for the purpose of determining whether the other person was so eligible.

61-305(2)    
You are also entitled to the *tax offset if:

(a) you are a trustee who is liable to be assessed under section 98 of the Income Tax Assessment Act 1936 in respect of a share of the net income of a trust estate; and

(b) the beneficiary who is presently entitled to the share of the income of the trust estate would be entitled to the tax offset because of subsection (1) if his or her taxable income for the income year were limited to that share.

61-305(3)    
However:

(a) you are not entitled to the *tax offset in respect of any premiums that were reduced under section 5-1 of the Private Health Insurance Incentives Act 1997 ; and

(b) you are not entitled to the tax offset in respect of any premiums in respect of which another person's entitlement to the tax offset has priority under section 61-315 ; and

(c) if, on a day during the income year, the policy ceased to be a dependent child policy (within the meaning of section 5-4 of that Act) - you are not entitled to the tax offset in respect of premiums to the extent that they relate to a part of the income year occurring after that day; and

(d) if all of the persons covered by the policy were dependent children at any time during the income year - you are not entitled to the tax offset unless your taxable income for that year was required by subsection 3-3(2) or 3-4(2) of that Act to be taken into account in applying the income test under section 3-3 or 3-4 of that Act.