Insurance protection tax
Insurance protection tax was abolished on 1 July 2011.
Policy holders/agents
Should you identify that you have a tax liability prior to the 30 June 2011 you should advise OSR in writing as soon as possible.
Registered insurers
Registered insurers with APRA who write general insurance are no longer required to pay insurance protection tax.
Record keeping responsibilities
You must keep all relevant records for a period of 5 years for audit purposes under section 53 of the Taxation Administration Act 1996.
More information
Last updated: 15-Aug-2011