16 NOVEMBER 2023
The Owners Corporation Network of Australia (OCN) congratulates the NSW Government on its decision to reform the Emergency Services Levy (ESL), announced by Premier Chris Minns today.
The tax penalises those who pay insurance amid a cost-of-living crunch and at a time when worsening extreme weather means cover is needed more than ever.
NSW insurance customers pay around three times the amount of state taxes than Victorian insurance customers.
All other mainland states have removed similar levies, and Tasmania has announced a process to reform its levy which is applied to commercial insurance only.
OCN was disappointed that the 2017 attempts to reform the tax failed.
Removing this inefficient tax will be a win for insurance affordability in NSW.
Federal Treasury media release:> https://ministers.treasury.gov.au/ministers/stephen-jones-2022/media-releases/government-welcomes-nsw-insurance-price-reforms