NSW Executive Director of the Property Council, Jane Fitzgerald, welcomed Treasurer Gladys Berejiklian’s commitment that everyone who holds an insurance premium will pay less under reforms to the Emergency Services Levy.
“Under this reform everyone who holds an insurance policy will pay less,” Treasurer Gladys Berejiklian, 23 June 2016, Legislative Assembly
“Fairness is fundamental to the reform of the Emergency Services Levy. Those who properly manage and insure their property should not be penalised,“ Ms Fitzgerald said.
“We commend the Treasurer on undertaking this long called for reform and guaranteeing that insured property owners will not be worse off.
“Under the current system, only 64 per cent of households insure their property. Those who do insure are bearing the burden for those who don’t.
“Investors in commercial and retail property (which effectively includes the 11 million Australians with superannuation) are highly insured compared to households, and also manage their assets through fire mitigation and suppression systems.
“It is important that everyone contribute fairly to the cost of the vital firefighting and SES services. These are services which are available to all,” Ms Fitzgerald said.
Treasury modelling suggests property insurance premiums will fall by around $200 on average every year under the change. Reducing the cost of insurance premiums is hoped to encourage more people to insure their properties.
Ms Fitzgerald said Treasury modelling should be carefully undertaken to ensure that those currently contributing to the emergency services levy will pay less under the reforms.
Media contact: Jane Fitzgerald | M 0419 257 835 | E [email protected]