Rates | Exemptions | Liable Person | Insurers | Intermediaries | Insured | Registration | Apportionment Schedule
For the purposes of the Duties Act and the Taxation Administration Act 2003 ("TAA") there are different obligations depending upon the type of person covered:
*This Special Tax Return Arrangement enables the payment of duty online by brokers.
New clients wishing to submit insurance premium information and/or make associated duty payments online should visit the Revenue Online home page and follow the link: ‘New Users – Online Insurance’.
The amount of duty payable on a premium, or an instalment of a premium, is 10% of the amount of the premium, or instalment, that is attributable to general insurance. Section 215 of the Duties Act.
“General insurance” does not include any of the following —
Duty chargeable on the premium paid in relation to a contract of insurance is payable by —
The schedule provides guidance for insurance duty purposes on the apportionment of insurance premiums paid for contracts of general insurance where more than one Australian jurisdiction has nexus to the contract of insurance.
The schedule is prepared by all the jurisdictions, in conjunction with the Insurance Council of Australia - see Commissioner’s Practice DA 12
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