Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 61.215

Reallocation of the private health insurance tax offset between spouses

             (1)  You can make a choice under this section in relation to the income year if:

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

                     (b)  on the last day of the income year, you are married (within the meaning of the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999 ; and

                     (c)  the individual to whom you are married is also a PHIIB in respect of the premium or amount; and

                     (d)  the individual to whom you are married has not made a choice under this section in relation to the income year.

Note:          If you make a choice under this section, you might be liable to pay an amount under section 282-18 of the Private Health Insurance Act 2007 (Liability for excess private health insurance premium reduction or refund).

             (2)  If you make a choice under this section in relation to the income year:

                     (a)  the amount (if any) of the * tax offset for the income year under section 61- 205 in respect of the premium or amount of the individual to whom you are married is reduced to nil; and

                     (b)  your tax offset for the income year under that section in respect of the premium or amount is increased by that amount.

             (3)  A choice under this section in relation to the income year can only be made in your * income tax return for the income year.

             (4)  A choice under this section in relation to an income year has effect for all premiums, or amounts in respect of premiums, paid during the income year.

Guide to Subdivision 61-L



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback