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 61-205   Entitlement to the private health insurance tax offset  

61-205(1)  


You are entitled to a *tax offset for the 2012-13 income year or a later income year if:


(a) a premium, or an amount in respect of a premium, was paid by you or another entity during the income year under a *complying health insurance policy in respect of a period (the premium period ); and


(b) you are a *PHIIB in respect of the premium or amount; and


(c) each person insured under the policy during the premium period is, for the whole of the time that he or she is insured under the policy during the premium period:


(i) an eligible person (within the meaning of section 3 of the Health Insurance Act 1973 ); or

(ii) treated as such because of section 6, 6A or 7 of that Act.

61-205(2)  
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).

61-205(3)  
(Repealed by No 26 of 2012)


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.