Will you take out MPCI POLL

The scrapping of stamp duty on multi-peril crop insurance is forecast to increase the number of policies taken out in SA.

THE state government has waived the 11 per cent stamp duty previously applied on multi-peril crop insurance policies.

Budget forecasts indicate the government is expecting about 100 farmers to take out MPCI policies.

Grain Producers SA chair Wade Dabinett welcomed the news, which the organisation had been calling for.

Midway through last year, Vic moved to waive its 10pc stamp duty on MPCI, while NSW also waived its 2.5pc from January 1. WA, NT and Tas each still have a 10pc stamp duty in place, while Qld sits at 9pc.

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