NSW Treasurer Mike Baird has dubbed the Fire Services Levy (FSL) "one of
the most inefficient taxes in the state" as he paved the way for the
abolition of the charge during the presentation of the state budget.
All other states but Victoria and Tasmania have already abolished the
FSL system. Victoria is in the process of making the transition to the
more econimically efficient property-based tax by July 1 next year,
joining Western Australia, South Australia and Queensland.
Insurance Council CEO Rob Whelan said the insurance industry was
pleased NSW was taking a very positive step towards removing taxes on
insurance. "We congratulate Mr Baird and the NSW Government for this
initiative," he said.
"State taxes and levies on insurance products are unfair
and inequitable. They make insurance less affordable and serve as a
disincentive to property owners taking out appropriate cover."
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