Private Health Insurance Incentives Amendment Act 1998

No. 127, 1998

Private Health Insurance Incentives Amendment Act 1998

No. 127, 1998

An Act to amend the Private Health Insurance Incentives Act 1997, and for related purposes

Contents

1 Short title

2 Commencement

3 Schedule(s)

Schedule 1—Amendment of the Private Health Insurance Incentives Act 1997

Schedule 2—Repeal of the Private Health Insurance Incentives Act 1997

Private Health Insurance Incentives Amendment Act 1998

No. 127, 1998

An Act to amend the Private Health Insurance Incentives Act 1997, and for related purposes

Assented to 21 December 1998

The Parliament of Australia enacts:

1  Short title

  This Act may be cited as the Private Health Insurance Incentives Amendment Act 1998.

2  Commencement

 (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.

3  Schedule(s)

  Subject to section 2, each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendment of the Private Health Insurance Incentives Act 1997

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.

Schedule 2—Repeal of the Private Health Insurance Incentives Act 1997

1  The whole of the Act

Repeal the Act.

I hereby certify that this Bill originated in the House of Representatives and has been finally passed by the Senate and the House of Representatives.

Clerk of the House of Representatives

In the name of Her Majesty, I assent to this Act.

Governor-General

1998