Explanatory Memorandum
(Circulated by authority of the Minister for Health, the Hon. Tanya Plibersek, MP)Notes on clauses
Clause 1 - Short Title
This clause provides that the Bill, once enacted, may be cited as the Private Health Insurance Amendment (Lifetime Health Cover Loading and Other Measures) Act 2012 .
Clause 2 - Commencement
This clause provides that the Bill will commence on 1 July 2013.
Clause 3 - Schedule(s)
This clause provides that each Act that is specified in a Schedule to this Bill is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this bill has effect according to its terms. The Bill amends the Private Health Insurance Act 2007 (the PHI Act), the Income Tax Assessment Act 1936 (the ITA Act 1936), the Income Tax Assessment Act 1997 (the ITA Act 1997) and the Taxation Administration Act 1953 (the TA Act 1953).