DUTIES ACT 2001 - SECT 362
Rate of insurance duty—general and accident insurance
DUTIES ACT 2001 - SECT 362
Rate of insurance duty—general and accident insurance
362 Rate of insurance duty—general and accident insurance
(1) 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— (a) 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
(b) 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.
(2) The rate of insurance duty
imposed on a premium for CTP insurance is 10c.
(3) The rate of insurance duty
imposed on net premiums charged for accident insurance is 5%.
(4) This
section has effect subject to part 4 .
