NSW SMALL BUSINESS STAMP DUTY EXEMPTION DECLARATION

Small businesses (with an annual turnover of less than $2 million) can be exempt from paying NSW stamp duty on certain types of insurance effected on or after 1 January 2018, including:

1. Commercial vehicle insurance – for a motor vehicle used primarily for business purposes
2. Occupational indemnity insurance (or professional indemnity) – covering liability arising out of the provision of professional or other services
3. Public and product liability insurance – covering liability for personal injury or property damage occurring in connection with, or arising out of the products or services of, a business.

For more information and to check if you are eligible to claim an exemption, please visit www.revenue.nsw.gov.au then go to the Insurance Duty page.

If you then require additional information, please contact your accountant or tax agent.

Please note there are significant fines for making a false declaration so it’s important you check your eligibility first.

My details:

Policy/Quote number
Start date of applicable period of insurance (this field may be left blank for quotes)
Name on policy

My Declaration:

By signing below I am declaring that:

1. I am a small business within the meaning of section 259A of the Duties Act (NSW) for the income year in which this insurance is effected or renewed.
2. I understand that should a subsequent Audit by the Office of State Revenue decide I am not a small business, that any exempted stamp duty (plus potentially interest and penalty tax) will become immediately payable to the Insurer.
3. I am the insured or have authority to make this declaration on behalf of the insured.

Name
Signature
Date	8 September 2024

Your declaration is valid for the applicable period of insurance.