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 Business Structure Description
Apply Application Sole Trader, Partnership, Company, Trust, Co-operative, Incorporated Association, Other

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

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

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)