1. Aggregated turnover is your Australia wide annual turnover plus the annual turnovers of any business entities that are your affiliates or are connect with you.
2. A fraudulent declaration may invalidate your insurance contract.
3. The declaration covers all polices issues to you during the financial year ended 30 June 2024.
4. An insurer will place reliance on your declaration in charging the applicable insurance duty.
5. False declarations may result in penalties up to $11,000 by Revenue NSW plus the insurance duty not paid and penal interest on the balance.
6. Revenue NSW may also be able to clarify your queries relating to the law and your obligations.