Insurer's obligations
If you are an insurer, and have written a contract of life insurance or received premiums, you must lodge a return. See insurance duty returns for more information.
Insured person's obligations
Usually, the insurer or broker would pay insurance duty to us. If you have already been charged duty on your insurance policy, then you do not need to pay us separately.
In some cases, the insured person or the insurance policy holder must pay the duty directly to us (e.g. if the insurer is not registered or is an overseas company).
If you have not been charged insurance duty, and your policy is not exempt, you may need to:
Please contact us if you are not sure whether you need to pay duty.
Overseas insurance companies
Certain overseas insurance companies may not have to register with us as they do not conduct business in Queensland.
However, insurance duty must still be paid on any policy taken out with an overseas insurer that relates to:
- property in Queensland
- risks associated with Queensland
- life insurance for a Queensland resident.
This ensures that overseas insurers do not have an unfair advantage over their Australian-based competitors.