INSURANCE companies have been warned they face fines of up to $10 million if they continue to charge extra on premiums to cover the Fire Services Levy, as new laws push responsibility for the scheme on to local councils.
The new levy is expected to save Victorian households and businesses $100 million through cuts to GST and stamp duty.
The State Government has allocated more than $50 million to handle the transition.
Treasurer Kim Wells said the move was the "biggest state-based tax reform in decades".
The changes were recommended by the Victorian Bushfires Royal Commission in 2010.
1 comment:
Agree it is the biggest tax reform in decades and well overdue, now lets hope insueres dont decide to increase premiums.
What I view as very poor is the insurance companies who let our CFA members in the lurch needing to go fundraising every year due to lack of funds when the CFA are responsible for saving $billions of lost property every year which the insurance companies would be saving in payouts if it was not for the brave men and women who risk their lives every year without much help from State Governments or the money bag CEO's who report huge profits every year.
If it were not for IGA scheme and other private donations the CFA would go bankrupt it seems.
Lets go talk to some of the insurance companies.
And furthermore what is happening with the State Planning Changes so I can build my garage in Yarra Glen. Just rang the Planning Dept today to be advised no one knows when these changes will come to pass and furthermore Yarra Ranges Shire is not yet using the new paperless SPEAR computer system which most other councils have been using to increase productivity in processing subdivisions and Planning Permit Applications by digital means.
This implies to me that the previous Greenie councillors were all talk and no real action people to save paper and trees.
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