Income Tax Assessment Amendment (Private Health Insurance Statement) Regulation 2013
(84 of 2013)
16 May 2013
Income Tax Assessment Act 1997
1 Name of regulation
This regulation is theIncome Tax Assessment Amendment (Private Health Insurance Statement) Regulation 2013.
2 Commencement
This regulation commences on the day after it is registered.
3 Authority
This regulation is made under theIncome Tax Assessment Act 1997.
4 Schedule(s)
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
Schedule 1 Amendments
Income Tax Assessment Regulations 1997
1 Division 61
Repeal the Division, substitute:
Division 61 - Generally applicable tax offsets
Subdivision 61-G - Private health insurance offset complementary to Part 2-2 of the Private Health Insurance Act 2007
61-220.01 Definitions for Subdivision 61-G
In this Subdivision:
complying health insurance policy has the meaning given by thePrivate Health Insurance Act 2007.
PHIIB (short for Private Health Insurance Incentive Beneficiary ) has the meaning given by thePrivate Health Insurance Act 2007.
private health insurer has the meaning given by the Private Health Insurance Act 2007.
61-220.02 Private health insurer to provide annual statement to PHIIB
(1)A private health insurer for a complying health insurance policy must provide to each PHIIB insured under the policy during a financial year, before 15 July of the following financial year, a statement in the approved form about the policy.
Note: For approved form , see section 995-1 of the Act.
(a) the complying health insurance policy held by the PHIIB and payments made under the policy;
(b) the premium, or amounts in respect of the premium, paid during the financial year in relation to the policy;
(c) any reductions of the premium payable, or an amount payable, during the financial year.