Register for Insurance Duty - Victoria

Service summary

You will need to pay this duty in you take out insurance on possessions, vehicles or buildings. Every property owner is liable to pay the levy either through council rates or through a separate notice. The levy has two parts:

  • a fixed charge ($105 for residential properties; $213 for non-residential properties)
  • a variable amount calculated by examining multiple property aspects.

A 10 per cent duty is charged on the gross value of the policy premium, including commission and GST.

Please consult the responsible agency for more information and to ascertain the level of compliance (if any) that may be required.

Service type

Licence

A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.

Exemptions

Please note that exemptions to the requirement to pay this duty exist. These exemptions include:

  • hospital or medical benefits
  • WorkCover
  • goods and merchandise including freight carried by land, sea and air
  • physical hulls of floating commercial vessels
  • damage by hail to cereal or fruit crops.

Eligibility requirements

Please consult the responsible agency for more information regarding eligibility requirements.

Fees

 TypeDescription
ApplyApplication

Please consult the responsible agency for information on fees to be submitted with your application.

Other resources

Application

Apply

The registered general insurer must lodge a return with the Agency showing all premiums collected in the preceding month, and pay the appropriate duty, on or before the 21st day of each month.

If an insured party is liable, that party must lodge a return with containing all the particulars, and pay the appropriate duty, within 21 days after the end of the month in which the relevant premium was paid.

Please note that a return must be lodged even if you do not have to pay any duty that month.


Administering agency

Department of Treasury and Finance
State Revenue Office

Act(s) name

Duties Act 2000 (Victoria)

Contact details

Duties
Department of Treasury and Finance
State Revenue Office


Operating address:
Level 2, 121 Exhibition Street
Melbourne
Victoria 3000
Mailing address:
GPO BOX 1641
Melbourne, Victoria 3001

Other:

13 21 61
sro@sro.vic.gov.au

Website:

http://www.sro.vic.gov.au/ Opens in a new browser window

Supporting information

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

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