New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 238

238 Refunds where premiums are returned

(1) A general insurer or a person to whom section 236 applies is entitled to a refund of duty if the general insurer refunds, or there is refunded to the person, the whole or a part of a dutiable premium in respect of the contract of insurance for which duty has been paid.

(2) The refund is the duty paid on the amount of the premium refunded.

(3) A general insurer to whom duty is refunded may apply the amount of the refund to offset any other payment required to be made under this Act by the general insurer.