NIBA campaign continues
Insurance & Risk Professional, February 2009
NIBA has been leading the charge against insurance taxes for several years, primarily through its tax information website and it’s “Say No to Insurance Taxes” campaign.
NIBA claims Victoria and New South Wales are the highest taxed states in Australia, while Victoria claims the dubious distinction of being the highest-taxed jurisdiction in the world for insurance.
NIBA blames high insurance taxes for contributing to non-insurance and underinsurance in Australia and urges concerned readers to contact state or territory premiers and local members of parliament to voice your concern.
The NIBA website contains articles and tax tables explaining the charges, including how the cascading effect of taxes drives up the total cost of a premium.
For more information go to www.niba.com.au/tax.