Federal Register of Legislation - Australian Government

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Determinations/Health as made
This determination relates to a levy imposed on private health insurance entities by the Private Health Insurance Supervisory Levy Imposition Act 2015.
Administered by: Treasury
Registered 05 Jul 2016
Tabling HistoryDate
Tabled HR30-Aug-2016
Tabled Senate30-Aug-2016
Date of repeal 01 Jul 2018
Repealed by Private Health Insurance Supervisory Levy Imposition Determination 2018
Table of contents.

Commonwealth Coat of Arms

 

 

Private Health Insurance Supervisory Levy Imposition Determination 2016

I, Scott Morrison, Treasurer, make the following determination under subsection 8(4) of the Private Health Insurance Supervisory Levy Imposition Act 2015.

Dated: 28 June 2016

 

 

 

Scott Morrison                                

Treasurer

 

  

  

  


Contents

1  Name of determination............................................................................................................. 1

2  Commencement........................................................................................................................ 1

3  Authority.................................................................................................................................. 1

4  Definitions................................................................................................................................ 1

5  Amount of supervisory levy..................................................................................................... 1

6  Amount of supervisory levy for a single policy....................................................................... 1

7  Census Day.............................................................................................................................. 2

 


1  Name of determination

                   This determination is the Private Health Insurance Supervisory Levy Imposition Determination 2016.

2  Commencement

                   This determination commences, or is taken to have commenced, on 1 July 2016.

3  Authority  

                   This determination is made under subsection 8(4) of the Private Health Insurance Supervisory Levy Imposition Act 2015.

4  Definitions

             (1)  In this determination:

2016‑2017 financial year means the financial year commencing on 1 July 2016.

Act means the Private Health Insurance Supervisory Levy Imposition Act 2015.

Note:          Terms used in this determination have the same meaning as in the Act – see section 13 of the Legislation Act 2003.

5  Amount of supervisory levy

                   For paragraph 8(4) of the Act, for the 2016-2017 financial year:

                     (a)  the amount of supervisory levy for each complying health insurance policy (a single policy) under which only one person is covered is worked out under section 6; and

                     (b)  the amount of supervisory levy for each complying health insurance policy that is not a single policy is twice the amount for a single policy.

6  Amount of supervisory levy for a single policy

             (1)  The amount of supervisory levy for a single policy is the amount in cents worked out using the formula:

 


413 600 000

aggregate single policies + (2 × aggregate other policies)

where:

aggregate single policies means the total number of single policies on issue from all private health insurers on 1 July 2016;

aggregate other policies means the total number of complying health insurance policies (other than single policies) on issue from all private health insurers on
1 July 2016.

             (2)  However, if the amount worked out using the formula is more than $2, the amount of supervisory levy for a single policy is $2.

7  Census Day

                   For paragraph 8(5) of the Act, 1 July 2016 is specified as the census day for the 2016-2017 financial year.