Does you business turnover less than $2 million dollars? If so, your business could be exempt from paying stamp duty on the following policies:
- commercial vehicle insurance
- occupational indemnity insurance
- product and public liability insurance
If you’re eligible, you will need to speak to your insurer and complete a declaration.
To find out more, visit https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/insurance-duty/small-business-exemption.