Published on March 19, 2018 1:25 am, by Jen Bakker
In NSW the average cost of a Green Slip has reduced by $124 per year. The reduced pricing for Green Slips for most vehicle classes came into play on 1 December 2017.
Owners who paid their registration between 1 December 2016 and 1 December 2017 may be eligible for a refund of CTP paid. The refund is a pro-rata amount of the difference between the old and current pricing. An admin fee of $10 will come off this amount. The closer you purchased your Green Slip to December 2016, the higher your refund will be.
If you are the vehicle’s registered owner you can claim your refund through Service NSW. The cutoff date for claiming a refund is 30 June 2019.
If you purchased CTP insurance on or after 1 December 2017 you would have paid according to the new pricing schedule.
In March 2017, NSW Parliament passed a bill to reform the CTP Green Slip scheme. The reforms aim to better support people who are injured on the roads as well as reducing the cost of Green Slips for vehicles on the roads. You can find more out about the CTP Green Slip reforms here.
If you are a MoneyBrilliant customer who lives in NSW and has a car we’ve already let you know about this refund. It’s all part of the MoneyBrilliant service. If you aren’t a MoneyBrilliant customer perhaps you should be. Sign up now at moneybrilliant.com.au or download the MoneyBrilliant app from the App Store or the Play Store.
Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.