Income Tax Assessment Amendment (Private Health Insurance Statement) Regulation 2013 (84 of 2013)
Schedule 1 Amendments
Income Tax Assessment Regulations 1997
1 Division 61
Repeal the Division, substitute:
Division 61 - Generally applicable tax offsets
Subdivision 61-G - Private health insurance offset complementary to Part 2-2 of the Private Health Insurance Act 2007
61-220.01 Definitions for Subdivision 61-G
In this Subdivision:
complying health insurance policy has the meaning given by thePrivate Health Insurance Act 2007.
PHIIB (short for Private Health Insurance Incentive Beneficiary ) has the meaning given by thePrivate Health Insurance Act 2007.
private health insurer has the meaning given by the Private Health Insurance Act 2007.
61-220.02 Private health insurer to provide annual statement to PHIIB
(1)A private health insurer for a complying health insurance policy must provide to each PHIIB insured under the policy during a financial year, before 15 July of the following financial year, a statement in the approved form about the policy.
Note: For approved form , see section 995-1 of the Act.
(a) the complying health insurance policy held by the PHIIB and payments made under the policy;
(b) the premium, or amounts in respect of the premium, paid during the financial year in relation to the policy;
(c) any reductions of the premium payable, or an amount payable, during the financial year.