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.

Subdiv 61-H inserted by No 128 of 1998.

S 61-345 repealed by No 32 of 2007, s 3 and Sch 3 item 9, applicable in relation to the 2007-2008 income year and later income years. S 61-345 formerly read:

SECTION 61-345 How to work out the incentive amount  
61-345(1)
The incentive amount for an appropriate private health insurance policy for an income year is worked out in accordance with the following table:

Incentive amounts
Item	Number and kinds of people covered by the policy	Policy provides *hospital cover but not *ancillary cover	Policy provides *ancillary cover but not *hospital cover	Policy provides *combined cover
1	3 or more people	$350	$100	$450
.
2	One dependent child and one other person	$350	$100	$450
.
3	2 people neither of whom is a dependent child	$200	$50	$250
.
4	One person	$100	$25	$125

61-345(2)
If the amount of the premium, or the amount in respect of a premium, paid by you, or by your employer as a *fringe benefit for you, under the appropriate private health insurance policy is for part only of the income year, the incentive amount is worked out using the following formula:

Incentive amount   from subsection (1)

×

Number of days in that part                   of the income year                   365

S 61-345 inserted by No 128 of 1998.