INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-20 - TAX OFFSETS  

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  

Operative provisions

SECTION 61-210   Amount of the private health insurance tax offset  

61-210(1)  
The amount of the *tax offset is your *share of the PHII benefit in respect of the premium or amount. Reduction because PHII benefit received in another form

61-210(2)  


Subsections (3), (4) and (5) apply if the amount of the premium was reduced because of the operation or purported operation of Division 23 of the Private Health Insurance Act 2007 .

61-210(3)  


Divide the total of the reduction by the number of persons who are *PHIIBs in respect of the premium or amount.

61-210(4)  
Reduce your *tax offset under subsection (1) to nil if the amount worked out under subsection (3) equals or exceeds your *share of the PHII benefit in respect of the premium or amount.

Note:

If the amount worked out under subsection (3) exceeds your share of the PHII benefit, you are liable to pay the excess to the Commonwealth. See section 282-18 of the Private Health Insurance Act 2007 (Liability for excess private health insurance premium reduction or refund).

61-210(5)  
Otherwise, reduce your *tax offset under subsection (1) by the amount worked out under subsection (3).


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