NIBA Technical Services advises the following changes to the Fire Services Levy ("FSL") in country Victoria.
Fire/ISR/Consequential Loss: increased from 47% to 49%.
Contractors All Risks: increased from 47% to 49%.
Please note that the following changes have been recommended to insurers by the Insurance Council of Australia to be effective not later than 27 August this year. As the Council cannot dictate an effective date for the changes, brokers will have to check this with the individual insurers.
For more details on the Fire Services Levy, log on to NIBA’s tax information website at www.niba.com.au/tax.