NobleOak Life (ASX:NOL) has provided an update on the potential impact of Victorian stamp duty reforms, following its April 3, 2025 announcement and disclosures in its FY25 financial accounts.
The company said it was notified by the State Revenue Office Victoria on Jan. 15 that the SRO does not agree with NobleOak's position on the stamp duty exemption and considers the company does not meet the statutory requirements to access the exemption available to friendly societies for insurance contracts held by Victorian policyholders from Jan 1.
NobleOak said it is engaging with the SRO and the Victorian Department of Treasury and Finance to seek clarification on the implications for insurance premiums collected on or after that date, while also assessing its response options.