Income Tax Assessment Act 1997

Pt 2-20 inserted by No 56 of 1997.

Div 61 inserted by No 56 of 1997.

Subdiv 61-G substituted for Subdiv 61-H by No 32 of 2007, s 3 and Sch 3 item 9, applicable in relation to the 2007-2008 income year and later income years.

Subdiv 61-H inserted by No 128 of 1998.

S 61-335 repealed by No 32 of 2007, s 3 and Sch 3 item 9, applicable in relation to the 2007-2008 income year and later income years. S 61-335 formerly read:

SECTION 61-335 Entitlement to the private health insurance tax offset  
61-335(1)
If you are an individual (other than an individual in the capacity of an employer), you are entitled to a *tax offset for the 1998-99 income year or a later income year if the conditions in subsections (2) and (3) are satisfied.

61-335(2)
A premium, or an amount in respect of a premium, was paid by you, or by your employer as a *fringe benefit for you, whether before or after the commencement of this Subdivision, under an appropriate private health insurance policy (within the meaning of the Private Health Insurance Incentives Act 1998 ) for the 1998-99 income year or a later income year.

61-335(3)
The premium, or amount in respect of a premium, was paid during the income year or, for the 1998-99 income year, before or during that year.

61-335(4)
You are also entitled to the *tax offset if:

(a) you are a trustee who is liable to be assessed under section 98 of the Income Tax Assessment Act 1936 in respect of a share of the net income of a trust estate; and

(b) the beneficiary who is presently entitled to the share of the income of the trust estate would be entitled to the tax offset because of subsection (1).

61-335(5)
However, you are not entitled to the *tax offset in respect of the payment of any premium, or any amount in respect of a premium, if:

(a) you have received an amount under Chapter 2 of the Private Health Insurance Incentives Act 1998 in relation to the payment; or

(b) the premium, or the amount in respect of a premium, was less than it would otherwise have been because of the operation of Chapter 3 of that Act.

Note:

In certain circumstances you can get a refund of the tax offset under Division 67 .

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History

S 61-335(5) amended by No 79 of 2000.

61-335(6)

(Repealed by No 79 of 2000)

S 61-335 inserted by No 128 of 1998.