Part of a package of three bills to effect three private health insurance tiers, the bill amends the
Income Tax Assessment Act 1936,
Income Tax Assessment Act 1997,
Private Health Insurance Act 2007,
Taxation Administration Act 1953 and
Taxation (Interest on Overpayments and Early Payments) Act 1983 to reduce the amount of private health insurance rebate eligible taxpayers with complying private health insurance are entitled to when their income for surcharge purposes is above the relevant Medicare levy surcharge threshold.