23 Aug Insurance Stamp Duty Exemption
These insurances can include:
- Commercial vehicle insurance
- Occupational indemnity insurance (or professional indemnity)
- Product and public liability insurance
If your business traded last year and the turnover was below $2million and/or your total turnover for
the current year is likely to be less than $2 million,
you may be eligible.
Where eligible, a declaration confirming you meet the exemption criteria must be submitted. Only then can your insurer apply the exemption to your policy.
So next time you are taking out or renewing your business insurances remember to check if you are eligible for the stamp duty exemption.
Want to know more about how you can further reduce business costs? Call Ross today to discuss on 02 4926 2699.