Yes. For Queensland insurance duty purposes, professional indemnity insurance falls within class 2 general insurance and attracts 9% duty on the premium paid, including GST, according to the Queensland Revenue Office’s Insurance Duty Rates in Queensland page, updated 13 March 2025. Duty is charged on the premium—the total amount paid to the insurance company for the insurance—and GST is considered part of that premium.
Figures checked 1 October 2026.
Why does professional indemnity insurance fall within class 2?
The Queensland Revenue Office lists general insurance for, or relating to, professional indemnity as class 2 general insurance.
The 9% rate applies to both class 1 and class 2 general insurance. Professional indemnity insurance therefore attracts this rate because of its class 2 classification, rather than through a separate professional-indemnity-specific rate.
What amount is used to calculate the duty?
| Item | Queensland treatment |
|---|---|
| Insurance category | Class 2 general insurance |
| Duty rate | 9% of the premium paid |
| Premium | The total amount paid to the insurance company for the insurance |
| GST | Considered part of the premium |
The GST-inclusive premium is therefore the relevant base for the stated 9% rate.
Does the 9% rate apply to every type of insurance?
No. Different insurance duty rates apply according to the type of insurance. Class 2 general insurance is a defined category that includes professional indemnity; it is not a catch-all category for every insurance policy.
What should readers check before acting?
Check the current Queensland Revenue Office rates page and the policy’s Product Disclosure Statement, or PDS. This is general information, not financial or legal advice.
Sources
FAQ
Is professional indemnity insurance subject to 9% duty in Queensland?
Yes. Professional indemnity insurance falls within class 2 general insurance, for which the Queensland duty rate is 9% of the premium paid, including GST.
Is GST included when calculating the duty?
Yes. GST is considered part of the premium, and the 9% rate applies to the premium paid, including GST.
Is 9% the duty rate for every insurance policy?
No. Insurance duty rates vary by insurance type. The 9% rate stated here applies to class 2 general insurance, which includes professional indemnity.