Insurance duty is calculated on the premium paid to effect the insurance. Generally, the insurer to whom the premium is paid must pay the insurance duty.
A premium is the total amount paid to an insurer for insurance.
If a premium is refunded, the insurer can apply to us for a refund of the duty. Alternatively, they can apply for an offset against future liabilities.
If you’re the insured person, contact the insurer for a refund of the duty.
An insurer is a general insurer or a life insurer. Learn about the types of insurance offered.
A person or entity who
As an insurer or insurance intermediary, you must keep the following records for five years
We may request these records for audit and assessment purposes.