NZ FIRE SERVICE LEVY AND YOUR LTC

As a company director, you might receive a letter from the New Zealand Fire Service asking you to make a Statutory Declaration.  What does it mean for you and your Look Through Company (LTC)?

The NZ Fire Service website states: “All property owners who insure property in New Zealand against the risk of fire pay a levy.”  Did you know that?  I sure didn’t.

So, what is it for? The purpose of the declaration is to provide to NZ Fire Service the following information:

• Type of property, e.g. residential buildings, personal property
• Location of property
• Amount for which the property is insured
• Type of cover
• Name and location of insurance company, i.e. are the NZ-based or overseas based
• Indemnity value
• Ditto for motor vehicles
• Date when the LTC was formed

Why do they want this info?  The NZ Fire Service seeks to establish that all parties who are liable to pay levy do so. Where your insurance is through a NZ-based insurer or broker, then this levy will likely be included already in your premiums, and the NZ Fire Service is looking to confirm with you that this is the case. However, where you insure offshore, the liability to pay levy falls directly to you.

What do I do with the form?  You have to take it to a Justice of the Peace, Solicitor of the High Court of NZ or another person authorized to take a statutory declaration, and sign it in front of them. They then sign it to.  This form is then sent to the NZ Fire Service.

Want to read more?  Go to this page at the NZ Fire Service website, or contact us for assistance with completing this form.

All trademark and copy rights belong to their respective owners.  EpsomTax.com is not endorsed by the NZ Fire Service. Thanks to Darren Stafford for assistance with this post.