How the MCIS Levy became the Fund Levy
The MCIS Levy is the Medical Care and Injury Services Levy. It is now known as the Fund Levy.
The Fund Levy is currently a fixed dollar amount, based on vehicle type and location. It appears as a separate charge on your greenslip.
The MCIS Levy first appeared in 2006 with the introduction of the Lifetime Care and Support Scheme. A full explanation of the Lifetime Care and Support Scheme is available on this site.
The Fund Levy is now made up of two separate components.
The largest component of the Fund Levy is used to fund the Lifetime Care and Support Scheme (LCSA General Fund and Motor Accident Injuries Treatment and Care Benefits (MAITC) Fund).
The second component of the Levy is the State Insurance Regulatory Authority component (SIRA Fund). The SIRA component of the Fund Levy is used by SIRA to pay:
- Operating costs of SIRA;
- Fees to Roads and Maritime Services (RMS) to administer the registration process; and
- Costs of public hospital, ambulance and other services for people injured in an accident.
The SIRA component of the Fund Levy is set by SIRA and is currently calculated as a percentage of greenslip premiums. SIRA’s component of the Fund Levy is currently 9.25% of greenslip premiums.
SIRA publishes on its website the Fund Levy amounts for three common vehicle types in the five designated geographic regions. These amounts are set under Motor Accident Injuries Act 2017, as at 1 December 2017.
(226 – 725cc)
| Light goods carrying
vehicle (up to 4.5t GVM)