New South Wales Consolidated Acts

INSURANCE PROTECTION TAX ACT 2001 - SECT 9

9 Premiums

(1) For the purposes of this Act, "premium", in relation to general insurance, means the total consideration given to an insurer by or on behalf of the insured person to effect insurance without deductions for any amounts paid or payable, or allowed or allowable, by way of commission or discount to an insurance intermediary.

(2) For the purposes of this Act, "premium":

(a) includes a fire service levy and emergency service levy paid or payable in connection with insurance by an insurer or any other person, and

(b) does not include:

(i) an amount paid to an insurance intermediary by the insured person as a fee, provided that the amount can be clearly identified as a fee, or

(ii) an amount of duty under the Duties Act 1997 or an Act of another Australian jurisdiction that corresponds to the Duties Act 1997 .

(3) It is immaterial where the amount is paid or received or where the insurance is effected.