Stamp duty

Stamp Duty rates that apply to MLC Insurance and MLC Insurance (Super) 

Stamp Duty is a State government charge on insurance covers, and these amounts are subject to change from time to time. 

To assist you to understand what State government charges are being levied, we have set out a table below of the Stamp Duty charges that apply by Insurance Type and State, as at 20 November 2017. Please refer to your policy schedule for the actual dollar amount of Stamp Duty that applies to your insurance cover.

‘Year 1’ refers to the amount of Stamp Duty charged in the initial premium amount when you first took out the insurance. ‘Year 2 onwards’ refers to the amount of Stamp Duty charged in the insurance premium in year two and subsequent years.

Stamp Duty All States

Notes

(1) In NSW, TAS and QLD, 0% duty in 2nd and subsequent years where Policy Fee relates to Life Cover or Life Cover riders (TPD Extension and Critical Illness Extension)

(2) In VIC, NT and WA, 0% duty in 2nd and subsequent years where Policy Fee relates to Life Cover only, otherwise apportioned across all premiums

(3) In NSW, 0% duty in 2nd and subsequent years where Premium Waiver relates to Life Cover or Life Cover riders (TPD Extension and Critical Illness Extension), otherwise apportioned across all premiums

Different Stamp Duty rates for some insurance covers for Northern Territory, Queensland and Victorian customers

These States have amended their duty rates in the last few years.  In these instances, a different Stamp Duty rate applies to the renewal of pre-existing insurance cover as set out below: 

Stamp Duty Selected States