Private Health Insurance Act 2007
View history note
Hide history noteA person ' s family tier 1 threshold for a financial year is an amount equal to double his or her [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
singles tier 1 threshold for the financial year.22-40(2)
A person ' s family tier 2 threshold for a financial year is an amount equal to double his or her [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
singles tier 2 threshold for the financial year.22-40(3)
A person ' s family tier 3 threshold for a financial year is an amount equal to double his or her [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
singles tier 3 threshold for the financial year.22-40(4)
However, if the person has 2 or more dependants (within the meaning of the A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999 ) who are children, increase his or her family tier 1 threshold , family tier 2 threshold and family tier 3 threshold for the financial year by the result of the following formula:
$1,500 × (Number of those dependants who are children − 1)
Example:
If the person has 3 such dependants who are children, the person ' s family tier 2 threshold for the 2021-22 and 2022-23 financial year is:
$210,000 + ($1,500 × 2) = $213,000
Note:
A person may be a tier 1 earner, tier 2 earner or tier 3 earner if his or her income for surcharge purposes exceeds the applicable threshold for that tier: see section 22-30 .
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