Subdiv 3Exempt insurance

Subdivision 3—Exempt insurance 36—Certain premiums exempt from duty The following premiums are exempt from duty under this Division: (a) a premium received or charged in respect of reinsurance; (b) a premium received or charged under a private guarantee fidelity insurance scheme promoted amongst and sustained solely for the benefit of the officers and servants of a particular public department, company, person or firm and not extended, either directly or indirectly, beyond such officers and servants; (c) a premium received or charged under a scheme referred to in paragraph (b) promoted amongst and sustained solely for the benefit of the officers and members of a friendly society or branch thereof and not extended, either directly or indirectly, beyond such officers and members; (d) a premium received or charged for life insurance in respect of investment and not in respect of a risk insured by the policy under which the premium is paid; (e) a premium received or charged in respect of a life or personal accident insurance risk where the principal place of residence of the insured person is in the Northern Territory and the policy under which the premium is paid is registered in a registry kept in the Northern Territory pursuant to the Life Insurance Act 1995 of the Commonwealth; (f) a premium received or charged under a policy of workers compensation insurance where the premium is referable to insurance against liability to pay workers compensation in respect of workers under the age of 25 years; (g) a premium received or charged under a policy of insurance by a body registered under Part 4‑3 of the Private Health Insurance Act 2007 of the Commonwealth where the premium is referable to insurance against medical, dental or hospital expenses; (h) a premium received or charged in respect of life insurance providing for the payment of an annuity to the person insured; (i) a premium received or charged in respect of the insurance of the hull of a marine craft used primarily for commercial purposes or in respect of the insurance of goods carried by railway, road, air or sea or of the freight on such goods; (j) a premium received or charged in respect of multi-peril crop insurance where the policy under which the premium is payable commenced on or after 1 January 2018.