Taxes, duties, levies and royalties
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Register, lodge and pay

You must register for insurance duty (PDF, 303 KB) if you're:

  • a general or life insurer who has written a contract of insurance or received premiums or
  • not an insurer but have effected or renewed general or life insurance with someone who isn’t registered for insurance duty.

You can also apply for registration if you're:

  • an insurance intermediary, such as a broker, agent or other party

Overseas insurers do not need to register.

In certain circumstances, we can cancel your registration. See section 250 of the Duties Act 1997.

If you change your business name or need to update your contact details, complete the online form.

Lodging returns

Returns are due on the 21st of each month for premiums received in the previous month.

  • If duty is not payable every month, send an email to the Chief Commissioner of State Revenue and ask to lodge insurance duty on an occasional basis under section 37 of the Taxation Administration Act 1996.
  • If you are required to lodge monthly and the liability for a month is nil, you must lodge a nil return.
  • If you’ve made an error with your lodgement, contact us to explain what has happened.

General insurers

You must include

  • all premiums received in the previous month for Type A and Type B insurance.

Life insurers

You must include

  • the total duty payable on life insurance policies (other than temporary or term insurance) effected in the preceding month
  • the total amount of all first year premiums for temporary or term life insurance received in the preceding month by or on behalf of the registered insurer, and all additional premiums for group term insurance policies received in the preceding month
  • the total amount of all first year premiums for life insurance riders received by or on behalf of the registered insurer in the preceding month and
  • any premiums received for Type A and Type B insurance.

Calculating the duty

When making your calculations

  • premiums that relate to different types of insurance and to insurance effected in different states of Australia, must be apportioned
  • premiums for exempt insurance are not to be included.

A policy of insurance may contain life insurance and different types of general insurance as well as exempt insurance.

In these cases, the premiums relating to each insurance type must be separated and have the correct rate of duty applied. This is because different rates of duty apply to the different types of insurance.

When calculating duty, general insurers must apportion all premiums paid on insurances that relate to

  • property that at the time of insurance is located in NSW and in another Australian state or territory
  • a risk concerning an act or omission that in the normal course of events may occur within, or partially within NSW and in another Australian state or territory.

Revenue Ruling DUT 038, Insurance Duty - Apportionment of Premiums Between Australian Jurisdictions, sets out the Insurance Apportionment Schedule.

An insurer or an insured person can request that a premium be apportioned on a basis other than in accordance with the schedule by making an application to us by email.

Paying duty

Interest and penalties apply when duty is not paid on time. If you cannot pay in full by the due date, contact us.

Insurance duty is payable on or before the 21st day of each month by

  • the general insurer or
  • the person who obtains, effects, or renews any general insurance as an insured person with someone who is not a registered insurer.

Insurance duty is payable on or before the 21st day of each month by

  • the life company or
  • the person issuing the policy or life insurance rider or
  • the person (not being a registered insurer) who effects a policy of life insurance or life insurance rider as an insured person with a person who is not a registered insurer.

The insured person must pay insurance duty on any policies taken out with an overseas insurer that relates to

  • property in NSW
  • risks associated with NSW
  • life insurance for a resident of NSW.

Insurance duty payment options

Contact your bank or financial institution if you need information on how to use BPAY or electronic funds transfers (EFT).

BPAY

Include the biller code and reference number printed on your remittance slip/letter.

Electronic funds transfer (EFT)

BSB032 001
Account no205 573
Account nameOSR EPS Tax Remitting Account
SWIFT CodeWPACAU2S
Lodgement referenceElectronic payment code (from your remittance slip/letter)

Overseas electronic funds transfer (EFT)

Bank nameWestpac
AddressLevel 3, 275 Kent Street, Sydney NSW 2000, Australia
SWIFT CodeWPACAU2S
Account Holder Address132 Marsden Street, Parramatta NSW 2150
BSB032 001
Account no205 573
Account nameOSR EPS Tax Remitting Account
Lodgement referenceElectronic payment code (from your remittance slip/letter)

Send your payment by mail

Payment can be made by cheque or money order.

Make your cheque or money order payable toChief Commissioner of State Revenue
Write on the back of your cheque or money orderYour name or business name and client ID
AddressRevenue NSW
GPO Box 4042
SYDNEY NSW 2001