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This is a Bill, not an Act. For current law, see the Acts databases.
2013-2014-2015
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Private Health Insurance Supervisory
Levy Imposition Bill 2015
No. , 2015
(Treasury)
A Bill for an Act to impose a levy on bodies
registered as private health insurers under the
Private Health Insurance (Prudential Supervision)
Act 2015, and for related purposes
No. , 2015
Private Health Insurance Supervisory Levy Imposition Bill 2015
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 2
3
Act binds the Crown .......................................................................... 2
4
Norfolk Island .................................................................................... 2
5
Definitions ......................................................................................... 2
6
Imposition of supervisory levy .......................................................... 3
7
Amount of supervisory levy payable for quarters in the
financial year starting on 1 July 2015 ................................................ 3
8
Amount of supervisory levy payable for the financial year
starting on 1 July 2016 or a later financial year ................................. 4
No. , 2015
Private Health Insurance Supervisory Levy Imposition Bill 2015
1
A Bill for an Act to impose a levy on bodies
1
registered as private health insurers under the
2
Private Health Insurance (Prudential Supervision)
3
Act 2015, and for related purposes
4
The Parliament of Australia enacts:
5
1 Short title
6
This Act may be cited as the Private Health Insurance Supervisory
7
Levy Imposition Act 2015.
8
Section 2
2
Private Health Insurance Supervisory Levy Imposition Bill 2015
No. , 2015
2 Commencement
1
(1) Each provision of this Act specified in column 1 of the table
2
commences, or is taken to have commenced, in accordance with
3
column 2 of the table. Any other statement in column 2 has effect
4
according to its terms.
5
6
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
At the same time as section 1 of the Private
Health Insurance (Prudential Supervision)
Act 2015 commences.
Note:
This table relates only to the provisions of this Act as originally
7
enacted. It will not be amended to deal with any later amendments of
8
this Act.
9
(2) Any information in column 3 of the table is not part of this Act.
10
Information may be inserted in this column, or information in it
11
may be edited, in any published version of this Act.
12
3 Act binds the Crown
13
This Act binds the Crown in each of its capacities.
14
4 Norfolk Island
15
This Act extends to Norfolk Island on and after the commencement
16
of Part 1 of Schedule 2 to the Norfolk Island Legislation
17
Amendment Act 2015.
18
5 Definitions
19
In this Act:
20
Section 6
No. , 2015
Private Health Insurance Supervisory Levy Imposition Bill 2015
3
census day for a financial year means the day that, in accordance
1
with subsection 8(5), is specified as the census day for the financial
2
year.
3
complying health insurance policy has the same meaning as in the
4
Private Health Insurance Act 2007.
5
levy determination: see subsection 8(4).
6
levy imposition day, in relation to a private health insurer for a
7
financial year, means:
8
(a) if the private health insurer is a private health insurer on
9
1 July of the financial year--that day; or
10
(b) in any other case--the day, during the financial year, on
11
which the private health insurer becomes a private health
12
insurer.
13
private health insurer has the same meaning as in the Private
14
Health Insurance (Prudential Supervision) Act 2015.
15
supervisory levy means levy imposed by section 6.
16
6 Imposition of supervisory levy
17
Levy payable in accordance with subsection 8(4A) or (4C) of the
18
Financial Institutions Supervisory Levies Collection Act 1998 is
19
imposed.
20
7 Amount of supervisory levy payable for quarters in the financial
21
year starting on 1 July 2015
22
(1) This section applies to levy payable, in accordance with
23
subsection 8(4A) of the Financial Institutions Supervisory Levies
24
Collection Act 1998, by a private health insurer for a quarter in the
25
financial year starting on 1 July 2015.
26
(2) The amount of supervisory levy payable by the private health
27
insurer for the quarter is the amount of Council administration levy
28
that would have been payable by the insurer in respect of the
29
quarter under the Private Health Insurance (Council
30
Section 8
4
Private Health Insurance Supervisory Levy Imposition Bill 2015
No. , 2015
Administration Levy) Rules 2007 if those Rules (and the Private
1
Health Insurance (Council Administration Levy) Act 2003), as in
2
force immediately before the commencement of this section, had
3
continued to apply.
4
8 Amount of supervisory levy payable for the financial year starting
5
on 1 July 2016 or a later financial year
6
(1) This section applies to levy payable, in accordance with
7
subsection 8(4C) of the Financial Institutions Supervisory Levies
8
Collection Act 1998, by a private health insurer for the financial
9
year starting on 1 July 2016 or a later financial year.
10
(2) Subject to subsection (3), the amount of supervisory levy payable
11
by the private health insurer for the financial year is the sum of the
12
levy amounts, as determined by the levy determination for the
13
financial year, for each complying health insurance policy on issue
14
from the insurer on:
15
(a) the census day for the financial year; or
16
(b) if the levy imposition day for the insurer for the levy year is
17
later than that census day--the levy imposition day.
18
(3) If the levy imposition day for the private health insurer is later than
19
1 July in the financial year, the amount of supervisory levy payable
20
by the insurer for the financial year is the amount worked out using
21
the following formula:
22
The amount worked out
The number of days in
under subsection (2)
1
the financial year after
The number of days
the levy imposition day
in the financial year
23
Minister to make annual determinations of levy amounts for
24
complying health insurance policies
25
(4) For the financial year starting on 1 July 2016, and for each later
26
financial year, the Minister is to make a legislative instrument (a
27
levy determination) determining the levy amount that is payable in
28
respect of a complying health insurance policy.
29
Section 8
No. , 2015
Private Health Insurance Supervisory Levy Imposition Bill 2015
5
(5) The levy determination for a financial year must also specify a day
1
in the financial year as the census day for the financial year.
2
(6) The levy determination for a financial year may determine a levy
3
amount by:
4
(a) specifying the levy amount; or
5
(b) specifying a method for calculating the levy amount.
6
(7) The levy determination for a financial year:
7
(a) must be such that each levy amount it determines is
8
calculated having regard to the number of complying health
9
insurance policies on issue on the census day; and
10
(b) may determine different levy amounts for complying health
11
insurance policies under which different numbers of people
12
are insured; and
13
(c) may determine a levy amount of zero; and
14
(d) must not determine a levy amount that exceeds:
15
(i) for a complying health insurance policy under which
16
only one person is insured--$2; and
17
(ii) otherwise--$4.
18