NIBA Technical Services advises the following changes to the fire services levy ("FSL") in Victoria.
Fire/ISR/Consequential Loss: increased from 47% to 48% in metropolitan areas, while in regional Victoria levies rose by 3% to 58%.
Metropolitan Householders and Houseowners: increased from 19% to 20%, while country policyholders pay 24% (up 2%).
Please note the following charges have been recommended to insurers by ICA to be effective not later than 1 July this year.
For more details on the fire services levy, log onto NIBA’s tax information website at www.niba.com.au/tax.