Income Tax Assessment Amendment (Private Health Insurance Statement) Regulation 2013 (84 of 2013)

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.