South Australian Consolidated Acts South Australian Consolidated Acts42AA—Duty in respect of policies effected outside South Australia
(1) Every company,
person or firm of persons which is not required to take out an annual licence
under section 33 and which obtains, effects or renews, outside South
Australia, a policy of assurance or insurance wholly or partly in respect of
any property in South Australia, or any risk, contingency or event occurring
in South Australia, shall, within one month of obtaining, effecting or
renewing that policy, lodge with the Commissioner a return in the
approved form containing such particulars of that policy and such other
information as may be prescribed or as the Commissioner may in any particular
case require.
(2) The Commissioner
may allow a rebate of the duty payable on that proportion of any premium which
is, in his opinion, properly attributable to the assurance or insurance of any
property outside South Australia or any risk, contingency or event occurring
outside South Australia.
(3) The person lodging
such a return shall, upon lodgment, pay to the Commissioner the duty payable
thereon, which shall be denoted by cash register imprint on the receipt issued
therefor.
(4) A company, person
or firm that does not lodge a return as required under this section is
nevertheless liable to pay duty to the Commissioner as if the company, person
or firm had lodged the return required under this section immediately before
the end of the period allowed for such lodgement.
(5)
Subsection (1) does not apply to any policy of life assurance.