A company, person or firm that is not required to be registered as an insurer that obtains, effects or renews, outside the State, a policy of insurance (except life insurance or a premium paid or payable in respect of life insurance, and premium paid for personal accident insurance in respect of a person whose principal place of residence was not in South Australia at the time the policy providing the insurance was obtained, effected or renewed) wholly or partly in respect of property in the State, or a risk, contingency or event occurring in the State, must, within one month of obtaining, effecting or renewing the policy lodge with the Commissioner a Statement containing such particulars of the policy and other information as the Commissioner requires in the particular case and pay relevant duty to the Commissioner.
What stamp duty is payable?
The duty is 11% of any premium paid or payable to the insurer in respect of the policy.
Calculate stamp duty on general insurance
The Commissioner may allow a rebate of the duty payable on that proportion of any premium (except premium paid for personal accident insurance in respect of a person whose principal place of residence was in South Australia at the time the policy providing the insurance was obtained, effected or renewed) that is, in the Commissioner’s opinion, properly attributable to the insurance of any property outside South Australia or any risk, contingency or event occurring outside South Australia. Any such proportion should be returned to the State Revenue Office of the Australian jurisdiction in which the risk is located. The General Insurance Apportionment Schedule can assist with apportionment across jurisdictions.
Class of insurance | Agreed basis of apportionment |
---|---|
Aviation Hull, Aviation Hull Third Party Property Liability and Aviation Hull Personal Liability | Where the aircraft, the subject of the insurance, is a high capacity regular public transport aircraft, apportioned on the basis of actual take-offs and landings in the previous year in each jurisdiction of all aircraft covered by the policy.
Where the aircraft, the subject of the insurance, is other than a high capacity regular public transport aircraft, jurisdiction of usual hangering of the insured property or location of the insured property. Notes
Note: This definition is contained in regulations made under the Civil Aviation Act 1988 (Statutory Rule 294 of 1994). |
Baggage | See travel. |
Bankers Blanket Policy | Apportioned according to the individual policy types outlined in this schedule. |
Blood Stock | Place of (usual) location of the asset. |
Boiler Explosion | Asset value/sum insured or exposure level for each jurisdiction. |
Burglary | Asset value/sum insured or exposure level for each jurisdiction. |
Business Interruption | Reasonably estimated profit revenue, fees, rent or other business measurement factor. |
Care Custody and Control of Blood Stock | Place of (usual) location of the asset. |
Cash in Transit | Number of premises.
Asset value/sum insured or exposure level for each jurisdiction. |
Company Reimbursement | Salaries and wages, number of people/employees. |
Comprehensive Crime Policy | Salaries and wages, number of people/employees. |
Contract Works | Asset value/sum insured or exposure level for each jurisdiction. |
Contractor Risks | Asset value/sum insured or exposure level for each jurisdiction. |
Crop | Asset value/sum insured or exposure level for each jurisdiction. |
Deterioration of Stock | Asset value/sum insured or exposure level for each jurisdiction. |
Disability – Single | Place of residence of the insured/place of registration of business. |
Disability – Group | Place of residence of the insured/place of registration of business. |
Directors & Officers | Turnover or sales or number of people. |
Fidelity Guarantee | Salaries and wages, number of people/employees. |
Fire | Asset value/sum insured or exposure level for each jurisdiction. |
General Property | Asset value/sum insured or exposure level for each jurisdiction. |
Home Building and Contents | Asset value/sum insured or exposure level for each jurisdiction. |
Industrial Special Risk Section – 1 Property | Asset value/sum insured or exposure level for each jurisdiction. |
Industrial Special Risk Section – 2 Consequential loss | Reasonably estimated profit revenue, fees, rent or other business measurement factor. |
Legal expense insurance | Salaries and wages, number of people/employees. |
Livestock | Place of (usual) location of asset. |
Loss of Profits | Reasonably estimated profit revenue, fees, rent or other business measurement factor. |
Machinery Breakdown (including computers and engineering) | Asset value/sum insured or limit of liability declared in each jurisdiction. |
Marine – Builders Risk | Asset value/sum insured or exposure level for each jurisdiction. |
Marine – Carrier’s Legal Liability - Coastal and international shipping | Predominant location. |
Marine – Charterer’s Liability - Coastal and international shipping | Predominant location. |
Marine – Hull Liability - Coastal and international shipping | Predominant location. Notes
The apportionment for coastal and international shipping is determined, regardless of the GMT of the vessel, based on the ‘predominant location’ of the vessel as defined below:
Note: Section 24 of the Marine Insurance Act 1909 (CW) requires the Insured to inform the Insurer or every material circumstances known by the Insured at the time insurance is obtained. |
Marine Private Pleasure | Place of registration or place of residence of the insured. |
Money | Number of premises.
Asset value/sum insured or exposure level for each jurisdiction. |
Mortgage Insurance | Apportionment is based on the location of the property secured. If the security consists of two or more properties that are located in different jurisdictions, the apportionment will be based on a value basis. |
Motor Vehicle (private use) and Extended Warranty for Private Use Vehicles | Apportionment based on normal place of garaging of the vehicle. |
Motor Vehicle or Extended Warranty – Commercial | Place of registration or deemed registration. |
Motor Vehicle or Extended Warranty – Unregistered | Place of (usual) location of asset – garaging. |
Motor Vehicle or Extended Warranty – Fed. Interstate | Place of registration or deemed registration. |
Occupational (Professional Indemnity) | Salaries and wages, number of people/employees.
Estimated profit, fees, rent, revenue etc |
Personal Accident and Illness – Group | Place of residence of the insured/place of registration of business. |
Personal Accident and Illness – Single | Place of residence of the insured/place of registration of business. |
Personal Liability | State of registration of business or place of residence of the person insured. |
Personal Property | Asset value/sum insured or exposure level for each jurisdiction. |
Pluvius | Asset value/sum insured or exposure level for each jurisdiction. |
Public Liability or Product Liability or Broadform | Salaries and wages, number of people/employees. Turnover or sales. Number of premises.
Floor area units or rent by State of risk.
Number of members of the organisation in each jurisdiction. |
Railway-property | Proportion of kilometres travelled by the rolling stock in each jurisdiction in the previous year. |
Railway-public liability | Proportion of kilometres travelled by the rolling stock in each jurisdiction in the previous year. |
Sprinkler Leakage | Asset value/sum insured or exposure level for each jurisdiction. |
Strata Unit | Asset value/sum insured or exposure level for each jurisdiction. |
Title Insurance | Location of the property. |
Trade Credit | Turnover or sales. |
Travel (outbound from Australia) – includes baggage | Duty payable on 10% of premium received. State of Registration of Business (where the Insured is not a natural person) or place of residence of the person insured.
Note: Should an insurance company disagree with this basis of apportionment they may apply to the Commissioner for apportionment on another basis. Where an insurance company elects to apportion duty on some other basis that method of apportionment must be applied consistently across all jurisdictions. |
Travel (within Australia) | Place of residence of the person insured or state of registration of the business (where the Insured is not a natural person). |
How do I lodge a Statement?
All Statements are lodged electronically on RevenueSA Online. Access RevenueSA Online to register. Each Australian Business Number (ABN) requires its own registration.
If no stamp duty is payable, you do not need to lodge a Statement.
In most cases the insured will contract a broker or agent to acquire the insurance policy and act as a lodging party on their behalf, however if no broker or agent is contracted, the insured must lodge the Statement and pay the duty.
What happens if the premium has been refunded?
Premium (excluding stamp duty) refunded by an insurer to the policy holder (and that takes into consideration any apportionment that was originally declared), where the premium has previously been declared to the Commissioner and stamp duty paid on that premium by the insured and/or their lodging party, can be taken into account in determining the premium subject to duty or claimed as an outright refund (depending on the circumstances of the situation).
Where premium refunded exceeds net premium, duty on the exceeded amount is taken to be an overpayment of tax pursuant to Section 41 of the Act, and the Statement is treated as an application for refund pursuant to Part 4 of the Taxation Administration Act 1996.
Does GST form part of the premium subject to duty?
Stamp duty is calculated on the GST inclusive value of a premium.
Find out more about the GST provisions in Information Circular No. 22.
Contact Us
When contacting us please provide your taxpayer details.
returns@sa.gov.au | |
phone | (08) 8226 3750, select option 4 |
fax | (08) 8226 3805 |
post | GPO Box 1353, Adelaide, SA 5001 |
You can reach us during business hours: 8:30am - 5:00pm (South Australian time), Monday to Friday (excluding public holidays).
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You can do so via our feedback and complaints page.