Document ID: chunk:federal_register_of_legislation:C2012A00026:clause:1_10:p1
Version: federal_register_of_legislation:C2012A00026
Segment Type: clause
Provision Reference: sch 1 cl 10 (pt 1/4)
Character Range: 8254–10843

10  After Division 20
Insert:

Division 22—PHIIB, PHII benefit and related concepts

Subdivision 22‑A—PHIIB, PHII benefit and related concepts

22‑1  Application of Subdivision
  This Subdivision applies if a premium, or an amount in respect of a premium, was paid, or is payable, during a financial year under a *complying health insurance policy in respect of a period (the premium period).

22‑5  Meaning of PHIIB

Adults insured under policy
 (1) Each *adult insured under the *complying health insurance policy throughout the premium period is a PHIIB, in respect of the premium or amount.
Note: PHIIB is short for private health insurance incentive beneficiary.

Dependent child‑only policies
 (2) Subsections (3) and (4) apply if the only persons insured under the *complying health insurance policy throughout the premium period are one or more *dependent children.
 (3) Each person who is a parent (within the meaning of Part 2.11 of the Social Security Act 1991) in relation to one or more of those *dependent children on the last day of the financial year mentioned in section 22‑1 is a PHIIB, in respect of the premium or amount.
 (4) However, the person who pays the premium or amount is the only PHIIB, in respect of the premium or amount, if:
 (a) disregarding this subsection, more than one person would be a *PHIIB in respect of the premium or amount because of subsection (3); and
 (b) those persons are not married to each other (within the meaning of the A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999) at the end of the financial year; and
 (c) the person who pays the premium or amount is not a *dependent child.

22‑10  Meaning of PHII benefit
  The amount of the PHII benefit, in respect of the premium or amount, is:
 (a) if there is only one *PHIIB in respect of the premium or amount—the PHIIB's *share of the PHII benefit in respect of the premium or amount; or
 (b) if there is more than one PHIIB in respect of the premium or amount—the sum of each of those PHIIB's share of the PHII benefit in respect of the premium or amount.
Note: PHII benefit is short for private health insurance incentive benefit.

22‑15  Meaning of share of the PHII benefit—single PHIIB
 (1) If there is only one *PHIIB in respect of the premium or amount, the amount of the *PHIIB's share of the PHII benefit, in respect of the premium or amount, is the sum of:
 (a) 30% of the amount of the premium, or of the amount in respect of a premium, paid or payable in respect of days in the premium period on which no person insured under the policy was aged 65 years