Stamp duty is a NSW government charge calculated on the premium paid for insurance. It is collected by us and paid to Revenue NSW. Eligible New South Wales small businesses may be able to apply for an exemption on paying stamp duty for certain business insurance and commercial vehicle insurance policies.
To see if your business could be eligible, visit the Revenue NSW website or seek professional advice.
If you are eligible and have started your new policy or have a policy due for renewal, please get in touch to declare your exemption status via this form .
Where do I find the Stamp Duty amount on my documents?
If you’ve received your Renewal document, or your New Business policy, you will find the Stamp Duty listed under the About your premium section.
Does the exemption apply to a quote?
We cannot apply the Stamp Duty Exemption at the quote stage. Once you have paid for your new policy, please get in touch regarding exemption status.
What happens when my exemption status is confirmed?
Once you verified you are eligible and have submitted the Stamp Duty Exemption declaration form, our customer service team will apply the exemption to your policy. We will notify you of when this is done, as well as any reduction in premium or applicable refunds.
If you pay monthly, the Stamp Duty will be deducted from all future debits.
If you have paid annually, the amount will be deducted from your premium and refunded to your payment card. For more information on refunds, check out Premium refunds.
If the exemption has been applied to a renewal, we will reissue you a renewal with the Stamp Duty removed.
If you only want to see how much your premium is without the Stamp Duty, though, it's easy enough to do.
Once you've completed the quote, you'll be given the price. On the right-hand-side of the page, there will be the Premium breakdown option, click this.
You will be given a breakdown of the taxes and fees involved in your premium. If you subtract the Stamp duty from the Total amount payable, that will be your total premium.
So, in the example above, the annual premium with the Stamp Duty exempted is $2370.46 - $205.66 = $2164.80.
If you want to pay it monthly, select the monthly option. Then the process is the same as above, but you then divide the final number by 12.