|
|
Bushfire CRISIS !!!!
Fire fighting and Insurance system set by urban London in 1666
Fails in rural AND urban Victoria in 2009
33% of burnt-out homes were not insured
many others under-insured
Prime reason 63% of premium goes in Firefighting Levy
a bizarre way of funding a state-wide service to save lives
Not only Police but fire-fighting services must be a state responsibility
funded from GST and general tax revenue
The sub-prime rate crisis has made the situation more serious
both for owners and tenants
|
The Fine Detail - its really an 87.23% levy
Although the headline above correctly reported the fine print is that
the situation is far worse and far more inequitable.
With FSL = Fire Service Levy at 63%, the extras On a $100 insurance premium,
which ought to just attract GST of $10, are the following
- Premium of $100
- FSL of $63.00
- GST of $16.30
- Stamp Duty of $17.93 being 10% of (Premium +GST= $179.30)
- TOTAL $197.23
In all- an 87.23% impost.
| |
