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.

Archived:

Former Subdiv 61-G repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 231, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

S 61-220 repealed by No 26 of 2012, s 3 and Sch 1 item 5, applicable in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012. S 61-220 formerly read:

SECTION 61-220 How to work out the incentive amount  
61-220(1)
The incentive amount for a complying private health insurance policy (within the meaning of the Private Health Insurance Act 2007 ) for an income year is the amount worked out under this table:

Incentive amount
Item	Number and kinds of people covered by the policy	Policy covers * hospital treatment but not * general treatment	Policy covers * general treatment but not * hospital treatment	Policy covers * hospital treatment and * general treatment
1	3 or more people	$ 350	$ 100	$ 450
2	One dependent child and one other person	$ 350	$ 100	$ 450
3	2 people neither of whom is a dependent child	$ 200	$ 50	$ 250
4	One person	$ 100	$ 25	$ 125

61-220(2)
If the amount of the premium, or the amount in respect of a premium, paid by you, or by your employer as a * fringe benefit for you, under the policy is for part only of the income year, the incentive amount is worked out using this formula:

Amount worked out under subsection (1)   x

Number of days in that part   of the income year   365

S 61-220 inserted 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.