associations > not_for_profit > not for profit insurance
Not for Profit Insurance

Generally, insurance policies in Queensland attract Stamp Duty at a rate of 7.5% applied to the premium payable to the Insurance Company for the policy, although there are some exceptions such as Professional Indemnity (5%), Inland Transit (Nil) and Motor Vehicle (5%).

Insurance Companies will agree not to charge Stamp Duty on insurance policies for Not for Profit organisations however, subject to you being able to provide them with a copy of your Notice of Registration as an Exempt Institution from the Queensland Government Office of State Revenue in accordance with Section 457 of the Duties Act 2001.