NSW commits to review fire services levy
The NSW Government has committed to a further review of the fire services levy (FSL) after the state economic regulator recommended the impost be abolished.
ICA CEO Kerrie Kelly told an industry forum last week that NSW Treasurer Michael Costa has committed to further review the fire services levy, but rejected a proposal to remove stamp duty exemptions from compulsory third party motor insurance.
“It is the first time the NSW Government has recognised the fire services levy may not be appropriate on insurance policies,” she said.
“We haven’t won the war yet but one of the battles has been won.”
A report in July by the NSW Independent Pricing and Regulatory Tribunal (IPART) recommended cuts to insurance stamp duty and identified a strong case for abolishing the fire services levy.
While IPART recommended both CTP and FSL cuts, Mr Costa has already said he will not agree to CTP changes but will look at the FSL further. His office was unable to confirm to insuranceNEWS.com.au exactly what form that review will take.
ICA CEO Kerrie Kelly told an industry forum last week that NSW Treasurer Michael Costa has committed to further review the fire services levy, but rejected a proposal to remove stamp duty exemptions from compulsory third party motor insurance.
“It is the first time the NSW Government has recognised the fire services levy may not be appropriate on insurance policies,” she said.
“We haven’t won the war yet but one of the battles has been won.”
A report in July by the NSW Independent Pricing and Regulatory Tribunal (IPART) recommended cuts to insurance stamp duty and identified a strong case for abolishing the fire services levy.
While IPART recommended both CTP and FSL cuts, Mr Costa has already said he will not agree to CTP changes but will look at the FSL further. His office was unable to confirm to insuranceNEWS.com.au exactly what form that review will take.