The Fund Levy used to be the MCIS Levy
The Fund Levy used to be called the MCIS Levy, or Medical Care and Injury Services 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 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 for the State Insurance Regulatory Authority (SIRA Fund). The SIRA component of the Fund Levy is used by SIRA to pay:
- Operating costs of SIRA
- Fees to Transport for NSW (TfNSW) to administer the registration process
- 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.
Fund Levy amounts are set under Motor Accident Injuries Act 2017, and may be adjusted.
(226 – 725cc)
| Light goods carrying
vehicle (up to 4.5t GVM)