QBE again first to reduce FSL rates in Victoria from 5 January 2013

As predicted fire service levies are set to fall again in Victoria from 5th January 2013 following an announcement yesterday by QBE.

There is no set system to follow due to the way the Victorian Government handled or mishandled the transition period rather than follow the example of Queensland, South Australia and Western Australia when they removed their fire service taxes on those that insure.

As the accompanying table shows FSL will drop across all classes of property, business interruption and contract works from 5 January.

Despite the transition being a mess, the Victorian Government should be congratulated for finally getting rid of the tax. 1 July 2013 will certainly be a great day when this tax, which like pay-roll tax makes no logical sense, is finally removed from those Victorians that insure.

With the consultation period now over in New South Wales I hope all readers have had their say.

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