How are Statements lodged?

All Statements are lodged electronically on RevenueSA Online.

Life Insurance

A Statement is required to be lodged annually with, and the duty paid to, RevenueSA by the 31st of January the following year. Stamp duty is calculated at a rate of 1.5% of premium subject to duty.

General Insurance

A General Insurer is required to lodge a monthly Statement providing details of all general insurance premiums in the previous calendar month and pay stamp duty at the rate of 11% of premium subject to duty.

The Statement and duty payable is required to be lodged with RevenueSA by the 15th day of the following month - for example, the July Statement must be lodged by 15 August.

If no stamp duty is payable, does a Statement still need to be lodged?

If no stamp duty is payable, a 'Nil' Statement must still completed and lodged. Lodging a 'Nil' Statement will avoid the Commissioner issuing an estimated assessment, inclusive of interest and penalty tax. The Statement is lodged on RevenueSA Online by an authorised user.

Interest and penalty tax are charged on the late lodgement / payment or non-lodgement of a Statement (refer to Ruling TAA001 for further information). A maximum court imposed penalty of $10,000 may apply for the offence of failure or refusal to lodge a Statement.

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