Document ID: chunk:federal_register_of_legislation:C2005A00009:clause:1_1
Version: federal_register_of_legislation:C2005A00009
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 1354–2735

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.

If someone registered or eligible to apply for registration

 (6) If a person was so registered or eligible to apply for registration, the amount payable is the greater of:
 (a) the sum of the amounts referred to in paragraphs (5)(a), (b) and (c); and
 (b) the *incentive amount for the policy for the later financial year.