Emergency Services Levy Act 2017
17Assessment of final contribution amount
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17 Assessment of final contribution amount
17 Assessment of final contribution amount
(1) The final contribution amount payable by an insurer for a financial year is the amount determined by the Chief Commissioner in accordance with the following formula—
where—Ft is the final contribution amount payable by an insurer for the financial year (represented by “t”).
Ct is the contribution target for the financial year (represented by “t”).
Pt is the total amount of premiums of the insurer subject to contribution in the financial year (represented by “t”).
Tt is the total amount of premiums of all insurers subject to contribution in the financial year (represented by “t”).
(2) The final contribution amount is to be rounded down to the nearest whole dollar amount.
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