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PRIVATE HEALTH INSURANCE ACT 2007 - SECT 22.40

Private health insurance family thresholds

  (1)   A person's family tier 1 threshold for a financial year is an amount equal to double his or her * singles tier 1 threshold for the financial year.

  (2)   A person's family tier 2 threshold for a financial year is an amount equal to double his or her * singles tier 2 threshold for the financial year.

  (3)   A person's family tier 3 threshold for a financial year is an amount equal to double his or her * singles tier 3 threshold for the financial year.

  (4)   However, if the person has 2 or more dependants (within the meaning of the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999 ) who are children, increase his or her family tier 1 threshold , family tier 2 threshold and family tier 3 threshold for the financial year by the result of the following formula:

    Start formula $1,500 times open bracket Number of those dependants who are children minus 1 close bracket end formula

Example:   If the person has 3 such dependants who are children, the person's family tier 2 threshold for the 2021 - 22 and 2022 - 23 financial year is:

  Start formula $210,000 plus open bracket $1,500 times 2 close bracket equals $213,000 end formula

Note:   A person may be a tier 1 earner, tier 2 earner or tier 3 earner if his or her income for surcharge purposes exceeds the applicable threshold for that tier: see section   22 - 30.


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