Business CTP Green Slips

Business CTP Green Slip NSW - Registration for GST affects your CTP Green Slip Price

If you are registered for GST, it will affect your green slip quote and green slip price in NSW. 

Insurers are allowed to charge a loading on green slip prices where the policy holder is entitled to claim an input tax credit for the GST component of the green slip price.

The loading applies to any individual or organisation registered for GST.

The loading charged by insurers must be the same percentage for each vehicle type and geographic area and can not be varied based on individual risk factors.

Clause 3.6 of the MAA Premiums Determination Guidelines (25 March 2008) dictates that the loading charged by insurers must be between 6.5% and 7.5% of the corresponding green slip quote or green slip price where there is no entitlement to claim an input tax credit for GST.

The MAA allows insurers to charge the loading on green slip prices because insurance companies do not receive a tax credit when they pay claims and because the MAA accepts that there are additional administrative costs to deal with the GST.

If you are registered for GST you are required to acknowledge that fact when you purchase a CTP green slip in NSW.  If your circumstance changes in respect of GST you are also required to notify your CTP green slip insurer.

The price comparison service operated by the MAA, the Green Slip Calculator, does not provide prices where you are seeking an input tax credit for GST. 

Tip... If you are seeking an input tax credit for GST, you can still use the MAA's Green Slip Calculator. Simply add 6.5% or 7.5% to the prices quoted.  This will still be a very good guide.

If you are registered for GST, the only other way to determine the cheapest CTP price in NSW is to contact each of the seven insurers offering CTP green slips in NSW.

Contact details for each of the seven ctp green slip insurers in NSW are on this site.