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.
Subdiv 61-H inserted by No 128 of 1998.
S 61-345 repealed by No 32 of 2007, s 3 and Sch 3 item 9, applicable in relation to the 2007-2008 income year and later income years. S 61-345 formerly read:
SECTION 61-345 How to work out the incentive amount
61-345(1) The incentive amount for an appropriate private health insurance policy for an income year is worked out in accordance with the following table:
|Item||Number and kinds of people covered by the policy||Policy provides *hospital cover but not *ancillary cover||Policy provides *ancillary cover but not *hospital cover||Policy provides *combined cover|
|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|
61-345(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 appropriate private health insurance policy is for part only of the income year, the incentive amount is worked out using the following formula:
| ||Incentive amount |
from subsection (1)
|×||Number of days in that part|
of the income year
S 61-345 inserted by No 128 of 1998.