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.