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This is a Bill, not an Act. For current law, see the Acts databases.
1998
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Private Health
Insurance Incentives Amendment Bill 1998
No.
, 1998
(Health and Aged
Care)
A Bill for an Act to amend the
Private Health Insurance Incentives Act 1997, and for related
purposes
ISBN: 0642 378126
Contents
A Bill for an Act to amend the Private Health
Insurance Incentives Act 1997, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Private Health Insurance Incentives
Amendment Act 1998.
(1) Subject to subsection (2), this Act commences on the day on which it
receives the Royal Assent.
(2) Schedule 2 commences on 1 July 2000.
Subject to section 2, each Act that is specified in a Schedule to this
Act is amended or repealed as set out in the applicable items in the Schedule
concerned, and any other item in a Schedule to this Act has effect according to
its terms.
1 Subsection 4-3(6)
Repeal the subsection, substitute:
(6) An application under this section may be made:
(a) if the application is for registration in respect of a policy for the
financial year that began on 1 July 1997—not later than 31 December 1998;
or
(b) if the application is for registration in respect of a policy for the
financial year that began on 1 July 1998—not later than 31 December
1999.
2 Subsection 5-1(1)
Omit all the words before paragraph (a), substitute:
Subject to subsection (1A), the amount of premium that, apart from this
section, would be payable under a private health insurance policy in respect of
which a person is a participant in the incentives scheme for a financial year
(see section 5-2) is to be reduced by the amount (the reduction
amount) worked out under whichever of the following paragraphs is
applicable:
3 After subsection 5-1(1)
Insert:
(1A) If the person has received a tax offset under Subdivision 61-G of the
Income Tax Assessment Act 1997 in respect of the amount of
premium:
(a) where the amount of the offset is less than the reduction
amount—the reduction amount is to be reduced by the amount of the offset;
or
(b) otherwise—the amount of the premium is not to be reduced under
subsection (1).
4 At the end of subsection
5-1(2)
Add:
; or (e) the payment on or before 31 December 1998 of a part of a premium
that relates to a period after 30 June 1999; or
(f) the payment of a premium that is made after 31 December
1998.
5 After paragraph 8-4(1)(b)
Insert:
; and (c) policies in respect of which:
(i) there was no reduction in premium for the relevant month; or
(ii) the reduction in premium for the relevant month was reduced under
subsection 5-1(1A).
6 Schedule 1
Insert:
financial year means the financial year that began on 1 July
1997 or the financial year that began on 1 July 1998.
1 The whole of the Act
Repeal the Act.