New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 259B

259B Exemptions for small business

(1) The following insurances are exempt from duty under this Chapter, if the insured person is a small business--

(a) commercial vehicle insurance, being motor vehicle insurance (within the meaning of section 233 (2A) (a)) for a motor vehicle that is used primarily for business purposes,

(b) commercial aviation insurance, being aviation insurance (within the meaning of section 233 (2A) (b)) for an aircraft that is used primarily for business purposes,

(c) occupational indemnity insurance, being insurance covering liability arising out of the provision by a person of professional services or other services (other than insurance providing medical indemnity cover within the meaning of the Medical Indemnity Act 2002 of the Commonwealth),

(d) product and public liability insurance, being insurance covering liability for personal injury or property damage occurring in connection with a business or arising out of the products or services of a business.

(2) Subject to the regulations (if any), an exemption under this section applies only to contracts of insurance effected or renewed on or after 1 January 2018.

(3) An exemption under this section is referred to in this Part as a
"small business exemption" .