Tax Newsletter

National Mutual Life case - Appeals update: SA stamp duty – TPD ‘rider’ policies held not to be ‘life insurance’

The taxpayers have lodged appeals to the Full Court of the SA Supreme Court against the decision of Layton J in National Mutual Life Association of Australia Ltd & Ors v Comr of State Taxation [2010] SASC 261.

The SA Supreme Court had held that the term "life insurance" for the purposes of the Stamp Duties Act 1923 (SA) does not include "rider" policies such as Total & Permanent Disability (TPD) cover.

In doing so, it affirmed the Commissioner's assessments of stamp duty using the higher "general insurance" rate.

[LTN 211, 1/11]

 

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