New revenue ruling DA-068 published

Published on 16 October 2024

Following consultation, we have published new ruling DA-068. Duty on business insurance is being progressively reduced over a 10-year period from 1 July 2024. This new ruling provides guidance on the application of the amended provisions in the Duties Act 2000 including:

• what business insurance is
• the circumstances where the reduced rate of duty will apply to business insurance.