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There are basically two levels of taxation in insurance: Federal and State.
Federal taxation is via the Goods & Services Tax (GST) which is applied after Fire Services Levies, but does not include Stamp Duty charges. Stamp duty is applied to the total of the premium plus the Fire Services Levy and the Goods and Services Tax.
All States, except ACT apply stamp duty to premiums, however NSW now offers an exemption for certain insurance products for businesses with a turnover of less than $2 million. Only NSW and Tasmania apply Fire Services Levies to premiums.
WHITE Insurance Brokers 2024| All Rights Reserved | Privacy Policy | FSG | Disclaimer | Terms & Conditions | Complaints & Disputes
Made with love by Alphesda Interactive