Victoria’s abolition of the fire services levy on insurance has been hailed a resounding success, with the new property-based levy already being cut back while delivering increased funding for fire services.
Levy rates will be cut from 1 July, with businesses set to receive the biggest cuts.
The insurance levy was scrapped in July last year and Deputy Premier Peter Ryan says the average cost for everyone was already lower and is now set to fall further.
“The average business in the CFA area will now pay $823 instead of $923 a year,” he says.
“The average business in a CFA area on an industrial block will see its bill drop from $1,689 to $1,389, saving $300.
“Farmers are big winners, with their average Fire Services Property Levy dropping from $449 to $402. This is a massive drop from the average of $725 each farmer was paying back in 2011-12.”
NIBA CEO Dallas Booth says: “We applaud the fairer and more equitable distribution of the cost of fire and emergency services across all who get benefit from those services.
“We look forward to NSW following through in the not-too-distant future.”