Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 349

(1) This chapter imposes duty (insurance duty) on each of the following—

(a) a contract of insurance that effects general insurance;

(b) a contract of insurance that effects life insurance;

(c) accident insurance.

Note—

Exemptions for insurance duty are dealt with in part 7. Also, other exemptions are dealt with in chapter 10.

(2) Insurance duty is imposed on the following—

(a) for general insurance—premiums for the insurance;

(b) for life insurance—premiums for the insurance or the sum insured, depending on the type of the insurance;

(c) for accident insurance—net premiums charged for the insurance.