About Careers Internship MedBlog Contact us
Medindia LOGIN REGISTER
Advertisement

Oz Parliament Votes: No Tax Rebate on Health Insurance Premiums for Rich

by Lakshmi Gopal on February 15, 2012 at 2:33 PM
Font : A-A+

Oz Parliament Votes: No Tax Rebate on Health Insurance Premiums for Rich

Australian Prime Minister Julia Gillard vindicated her stand on health insurance in the House of Representatives on Wednesday, when lawmakers struck down the tax rebate on health insurance premiums for individuals earning more than 129,000 Australian dollars ($137,800) a year.

The legislation won by a narrow margin -- 71 votes to 70, will come into effect from July 1 to help the government deliver a budget surplus next year. Wealthy earners will, therefore, pay up a total of AU$2.4 billion over the next three years.

Advertisement

Lower and middle-income earners are also expected to be hit, as the new rule will limit the 30 percent tax rebate on health insurance premiums. Couples with joint incomes exceeding AU$258,000 will no longer be eligible for the rebate.

Currently all taxpayers can claim the rebate.

The bill is assured passage through the Senate as the center-left Labor Party and the minority Greens Party will vote for it.



Source: Medindia
Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
What's New on Medindia
Test Your Knowledge on Liver Transplantation
Organ Donation Week 2022 - 'Take the Pledge to Save Lives'
Test your Knowledge on Heart Transplantation
View all
Recommended Reading
News Archive
Date
Category
Advertisement
News Category

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Health Insurance Plan Third Party Administrators for Health Insurance Star Health and Allied Insurance Health Insurance Policies offered by Bajaj Allianz Insurance ICICI Lombard General Insurance Company Limited Health Insurance Health Insurance - Ombudsman Health Insurance - Basics New India Assurance Policies Cholamandalam Health Insurance Policies 

Most Popular on Medindia

A-Z Drug Brands in India Find a Hospital Daily Calorie Requirements Drug Side Effects Calculator Diaphragmatic Hernia Blood Donation - Recipients Accident and Trauma Care Drug - Food Interactions Post-Nasal Drip Blood Pressure Calculator
This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use