• The NSW Government is offering a Stamp Duty Exemption for eligible insurances effective/renewed on or after January 1st 2018 for small businesses.
  • In order to apply for the exemption you would need to supply a Declaration to your insurer, and must be a small business as defined in section 259A of the Duties Act 1997, i.e. with an aggregated turnover less than $2 million.
  • The exemption will be applicable only to eligible insurances for the business, some of which include Commercial Vehicle Insurance, Occupational Indemnity Insurance, Product & Public Liability Insurance and Commercial Aviation Insurance.
  • If the declaration is received by your insurer after the time that the insurance has been effected/renewed, the insurer may not be able to recover the stamp duty already paid and is not required to make any premium adjustment or refund to you.
  • If you are unsure whether the definition of small business applies to you for the purposes of determining your eligibility for the stamp duty exemption, visit Revenue NSW’s website http://revenue.nsw.gov/taxes/insurance for more information or obtain qualified tax advice.
  • All
  • About Us
  • Accounting Software
  • Buy/Sell Businesses
  • Community
  • Personal Finance
  • Self Managed Super
  • Small Business
  • Staff
  • Superannuation
  • Tax
  • Xero Certified
  • Default
  • Title
  • Date
  • Random
load more hold SHIFT key to load all load all