Private Health Insurance Incentives Amendment Act 2005 (Cth)

Private Health Insurance Incentives Amendment Act 2005

No. 9, 2005

An Act to amend the law relating to private health insurance incentives, and for other purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Changes to the private health insurance rebate for people aged 65 and over

Part 1—Amendment of the Private Health Insurance Incentives Act 1998

Part 2—Amendment of the Income Tax Assessment Act 1997

Part 3—Application

Schedule 2—Gold cards National Health Act 1953

Private Health Insurance Incentives Amendment Act 2005

No. 9, 2005

An Act to amend the law relating to private health insurance incentives, and for other purposes

[Assented to 22 February 2005]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Private Health Insurance Incentives Amendment Act 2005.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Changes to the private health insurance rebate for people aged 65 and over

Part 1—Amendment of the Private Health Insurance Incentives Act 1998

1 Subsections 4‑10(5) and (6) Repeal the subsections, substitute:

If no‑one registered or eligible to apply for registration

(5) If no person was so registered or eligible to apply for registration, the amount payable is the sum of the following amounts: (a) 30% of the amount of the premium paid by you, or by your employer as a *fringe benefit for you, under the policy in respect of days in the later financial year on which no person covered by the policy was aged 65 years or over; (b) 35% of the amount of the premium paid by you, or by your employer as a *fringe benefit for you, under the policy in respect of days in the later financial year on which: (i) at least one person covered by the policy was aged 65 years or over; and (ii) no person covered by the policy was aged 70 years or over; (c) 40% of the amount of the premium paid by you, or by your employer as a *fringe benefit for you, under the policy in respect of days in the later financial year on which at least one person covered by the policy was aged 70 years or over.