" Might some policyholders be double-charged – once under the ESL system and once under the property-based system?
No, policyholders will not be taxed twice. Policyholders pay ESL for the financial year in which they buy or renew their policy, no matter what the policy start date is. Some policyholders may pay ESL and the new property-based charge close together, depending on the renewal date for their insurance policy. But the final ESL charge will be for financial year 2016-17, and the first property-based charge will be for financial year 2017-18."
IAG Price at posting:
$5.99 Sentiment: Hold Disclosure: Held
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