MOTORISTS TO RECEIVE GREEN SLIP REFUNDS

The vast majority of NSW motorists will receive a CTP Green Slip refund next year as part of the NSW Government’s reforms that make the scheme fairer and more affordable.

Minister for Finance, Services and Property Victor Dominello said about $300 million will be returned to motorists across the state in addition to the $120 saved on the average premium under the new scheme.

“Come 1 December we are moving to a lower cost Green Slip scheme. It’s double good news because, for the overwhelming majority of motorists, it means they will get a partial refund on what they paid in 2017 and a cheaper premium in 2018,” Mr Dominello said.

“This is a big win for motorists across the state. Taxi drivers will be major beneficiaries with significant refunds put back in their pockets.”

Throughout 2017, NSW motorists have been renewing or purchasing their CTP insurance based on the existing higher cost scheme. Many have paid too much and the NSW Government is giving them their money back.

Refund amounts will differ between motorists depending on when they renew their Green Slip. The closer to 1 December 2017 a motorist pays their premium, the larger the refund.

Sydney motorists, who pay the highest Green Slip prices, will see the largest refunds, at an average of $70, while country motorists will see refunds of around $30. Further details regarding the process for accessing refunds will be announced shortly.

The Government will also fund an advertising campaign next year to inform motorists of their legal rights under the new scheme as well explaining their refund entitlements. Further information is available at www.sira.nsw.gov.au