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IMMIGRATION AND PROTECTION TRIBUNAL NEW ZEALAND[2023] NZIPT 206555RP TAKE MANENE, TAKE WHAKAMARU AOTEAROAAppellant:OG (Partnership)Before:S Benson (Member)Counsel for the Appellant:S ShamiaDate of
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Our collection of IPT refers to the Insurance Premium Tax, which is a tax levied on insurance premiums paid by policyholders.
Insurance providers and intermediaries that collect premium payments from policyholders are required to file the IPT.
To fill out the IPT collection, agencies must complete the applicable forms with detailed premium amounts collected, and submit them to the relevant tax authority.
The purpose of collecting IPT is to generate revenue for public services and promote equity in the taxation of insurance products.
The report must include total premiums collected, exempted amounts, calculation of the tax owed, and any relevant policyholder information.
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