Register for Insurance Duty - Victoria

Description

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

Fees Details for this service in table format.

Task Type Description
Apply Application

Fees may vary. Please contact the responsible council / agency for more information.

Forms

Task Resources
Apply Insurance Duty: Application for Registration as an Insurer - PDF (Opens in new window)
Apply Insurance Duty: Application for Registration as an Approved Life Insurer - Please contact the responsible agency for application forms and registration details.
Vary Change of Contact Details - PDF (Opens in new window)

Application process

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

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.

Duties

State Revenue Office

Department of Treasury and Finance

Operating address: Level 2, 121 Exhibition Street
Melbourne
Victoria 3000
Mailing address: GPO BOX 1641
Melbourne, Victoria 3001
Other: 13 21 61
Email: sro@sro.vic.gov.au
Website: http://www.sro.vic.gov.au/ (Opens in new window)