With insurance premiums on the rise as communities across Australia experience increases in property crime, One Nation will demand that insurance is exempted from the Goods and Services Tax (GST).
One Nation leader Senator Pauline Hanson said in the long term it would be in the interests of Australian taxpayers to exempt insurance from GST.
“With premiums rising along with so many other costs of living and doing business, Australian households are going to take a long hard look at their insurance premiums, and some are going to decide they can no longer afford it,” Senator Hanson said.
“That potentially creates a big problem for Australian governments, especially in the event of a large-scale natural disaster, because ultimately taxpayers could be footing the bill for rebuilding.
“So I think we should be doing all we can to keep insurance costs low, so more Australians are protected. “Making insurance exempt from GST makes sense. Insurance is only a ‘service’ when a claim is made against a policy. This would save Australians a lot of money and hopefully encourage more people to get cover.”
Senator Hanson said One Nation, if it gained the balance of power at this year’s Queensland state election – would also exempt insurance from state government stamp duty.
“It’s obscene that with insurance premiums rising sharply on the back of escalating crime in regional Queensland, the state government – hopeless in addressing out-of-control crime—is receiving more direct revenue through stamp duty and more indirect revenue through GST.”