Rate of insurance duty—general and accident insurance
362 Rate of insurance duty—general and accident insurance
The rate of insurance duty imposed on a premium for general insurance or, if section 349(2)(a)(i) applies, the part of the premium, is—
9% of the premium or part of the premium to the extent to which the premium or part of the premium is paid to effect class 1 general insurance; or
9% of the premium or part of the premium to the extent to which the premium or part of the premium is paid to effect class 2 general insurance.
The rate of insurance duty imposed on a premium for CTP insurance is 10c.
The rate of insurance duty imposed on net premiums charged for accident insurance is 5%.
This section has effect subject to part 4.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.