In September and November 2009 we reported on the impact of the NSW Supreme Court’s decision in Qantas Airways Limited (the Qantas Decision) which was subsequently affirmed by the NSW Court of Appeal.  We confirm that Resource Underwriting Pacific Pty Ltd (as agents for certain Underwriters at Lloyd’s) applied to the State Revenue Offices of NSW as well as ACT, and Qld (where the Qantas Decision may also apply), for refunds of stamp duty previously paid on behalf of parties insured (or formerly insured) under general insurance contracts issued by Resource on behalf of Underwriters, and in respect to relevant past periods (which vary according to the duties legislation in each State). (Please refer to our prior bulletin for further details).

In accordance with directives from the Underwriting Agencies Council, Resource (as agents) are endeavouring to assist brokers who approach us for relevant information regarding duty paid to the NSW OSR if appropriate and in a timely manner, to enable the brokers to pursue the insureds’ entitlement(s) to potential rebates.







Recently we became aware of the Queensland Government’s moves deal with the Qantas Decision via new laws clarifying the stamp duty obligations for companies entering contracts with overseas-based insurers. Changes to Qld’s Duties Act are expected to be backdated to 14 January 2010. The Qld OSR has agreed to refund duty in limited circumstances. For more information, refer to www.osr.qld.gov.au. Bulk refunds can be claimed by brokers who received payment from insureds in relation to the relevant period. Resource will continue to assist brokers to identify the relevant amounts of duty paid on behalf of insureds relating to the refund period. This is on the basis that the brokers will claim bulk refunds on their clients’ behalf.