Australia's state governments collected $6bn in insurance stamp duty, a 6% increase, contributing to over 20% tax on insurance premiums.

Australia's state governments collected $6bn in insurance stamp duty in the last financial year, a 6% increase. Combined with GST, insurance premiums face over 20% tax. The Insurance Council of Australia says this discourages private insurance. Assistant Treasurer Stephen Jones suggests states stop approving flood zone developments, improve infrastructure management, and reassess disaster funding.