Stamp duty refund opportunity

This page contains information on the matter of stamp duty paid on premium for policies placed with offshore insurers, which arose following the NSW Supreme Court's decision in the case of Qantas Airways Ltd v Chief Commissioner of State Revenue [2008] NSWSC 1049. The matter was confirmed on appeal in Chief Commissioner of Stamp Revenue v Qantas Airways Ltd [2009] NSWCA 163.

We encourage clients to contact their Marsh advisor should they have any further questions about the issue.

***UPDATE - 18 November 2009
Further to the client alert issued on 3 November 2009, the NSW OSR has now clarified that the refund opportunity applies to stamp duty paid on policies effected in NSW prior to 20 June 2006, even when payment of duty was made after 20 June 2006. The FAQ page on the NSW OSR website has now been edited to reflect this clarification.

***UPDATE - 25 August 2009
Marsh is advised that the NSW Chief Commissioner of Stamp Revenue (CCSR) did not apply for special leave to appeal to the High Court against the Qantas decision and that the 28 day period for application for special leave has now lapsed.

Marsh understands that the NSW Office of State Revenue is now in the process of developing procedures for the issuing of refunds. Clients will be informed via Client Alerts and updates on this website as soon as details of the reimbursement process are established.