4Premiums

4 Premiums

4 Premiums

(1) In this Act, a reference to a premium, or to the amount or total amount of premiums, includes any brokerage or commission paid or due to be paid or allowed to be paid on—

(a) the premiums, or

(b) bonuses or return premiums allowed in respect of a policy of insurance the subject of the premiums, or

(c) such part of the premiums received by or due to the insurer as is paid or due to be paid by way of reinsurance by the insurer to another insurer in the State.

(2) However, premiums do not include GST or duty payable under the Duties Act 1997 in respect of policies of insurance the subject of the premiums.