Are you eligible for a CTP green slip refund?

Richard Laycock & Ben Gribbin
22 March 2018 NEWS

Over 4 million NSW vehicle owners are eligible for a refund.

This week marked the launch of the compulsory third party (CTP) green slip refund, which is part of the CTP reforms announced in November 2017.

The green slip reforms are bringing about substantial savings for motorists, on average a saving of $100 per person. Motorcycle riders aren’t going to receive back payments, but will now have access to a higher level of benefits, whether at fault or not. But the all-important question is: how much will your refund be?

How much will you get back?

Well, that depends on a couple of factors including where your car is registered, the type of vehicle and when you registered your car. Refunds range anywhere from $10 to $2,197, before admin fees. It’s possible for the admin fee to cancel out smaller refunds.

To claim a refund you'll need to head over to the Service NSW website and log into your MyServiceNSW account. There's a refund deadline too, 30 September 2018, so there's no rush. To avoid the site crashing again and disrupting licence and registration services, refund applications can be lodged statewide from 7pm until 7am from Monday to Saturday and all day Sunday.

The table below displays how much you might be able to get back.

Average refund amounts (inc GST) based on the month the Green Slip was purchased

Dec 16Jan 17Feb 17Mar 17Apr 17May 17Jun 17Jul 17Aug 17Sep 17Oct 17Nov 17
Class 1 Motor carn/an/a$21$33$45$57$69$73$84$95$105$116
Class 3c Goods Vehicle 4.5< 4.5t GVMn/a$11$24$37$50$63$76$76$87$98$109$121
Class 3d Goods Vehicle 4.5t - 16.0t GVMn/a$18$36$53$71$89$106$154$175$197$219$240
Class 3e Goods Vehicle > 16.0t GVM$13$57$101$145$189$233$277$354$402$450$498$547
Class 7 Taxi-Cab$102$324$546$767$989$1,211$1,433$1,377$1,562$1,747$1,932$2,116
Dec 16Jan 17Feb 17Mar 17Apr 17May 17Jun 17Jul 17Aug 17Sep 17Oct 17Nov 17
Class 1 Motor carn/an/an/an/a$11$15$19$19$23$26$30$34
Class 3c Goods Vehicle 4.5< 4.5t GVMn/an/an/an/a$12$17$21$15$18$21$24$27
Class 3d Goods Vehicle 4.5t - 16.0t GVMn/an/a$18$28$39$49$60$59$68$77$86$95
Class 3e Goods Vehicle > 16.0t GVMn/an/a$19$31$42$53$64$74$85$96$108$119
Class 7 Taxi-Cab$50$166$283$400$516$633$750$1,070$1,213$1,357$1,501$1,645
Dec 16Jan 17Feb 17Mar 17Apr 17May 17Jun 17Jul 17Aug 17Sep 17Oct 17Nov 17
Class 1 Motor carn/an/a$16$26$35$45$55$55$63$71$80$88
Class 3c Goods Vehicle 4.5< 4.5t GVMn/an/a$18$29$40$51$62$56$65$74$82$91
Class 3d Goods Vehicle 4.5t - 16.0t GVMn/an/a$17$27$37$47$57$112$129$145$161$177
Class 3e Goods Vehicle > 16.0t GVM$10$48$87$125$163$201$239$263$300$336$372$409
Class 7 Taxi-Cab$103$325$547$770$992$1,214$1,437$1,380$1,565$1,751$1,936$2,121
Dec 16Jan 17Feb 17Mar 17Apr 17May 17Jun 17Jul 17Aug 17Sep 17Oct 17Nov 17
Class 1 Motor carn/a$13$28$42$57$71$86$87$100$112$125$138
Class 3c Goods Vehicle 4.5< 4.5t GVMn/an/a$20$32$43$55$66$61$71$80$90$99
Class 3d Goods Vehicle 4.5t - 16.0t GVMn/an/a$16$26$36$46$56$110$126$142$158$174
Class 3e Goods Vehicle > 16.0t GVM$11$51$91$131$171$210$250$298$339$379$420$461
Class 7 Taxi-Cab$57$187$317$447$578$708$838$1,059$1,202$1,344$1,486$1,629
Dec 16Jan 17Feb 17Mar 17Apr 17May 17Jun 17Jul 17Aug 17Sep 17Oct 17Nov 17
Class 1 Motor carn/an/a$19$31$42$53$65$62$71$81$90$100
Class 3c Goods Vehicle 4.5< 4.5t GVMn/an/a$16$26$36$46$56$44$51$58$65$72
Class 3d Goods Vehicle 4.5t - 16.0t GVMn/an/a$20$32$43$55$67$114$130$146$163$179
Class 3e Goods Vehicle > 16.0t GVM$21$82$142$202$262$322$382$397$451$505$559$613
Class 7 Taxi-Cab$105$333$561$789$1,017$1,245$1,473$1,430$1,622$1,814$2,006$2,197
Source: State Insurance Regulatory Authority

Why were reforms needed?

The 18-year-old system was slow and outdated. An injured person could end up waiting an average of three to five years for compensation. Even minor injuries could take 18 months to resolve.

It was also discovered that only $0.45 out of every dollar was going towards benefits. The rest went towards costs related to the scheme, insurers profit and legal/admin/investigation expenses.

NSW drivers faced some of the highest premiums throughout Australia and without reform, motorists would have just paid higher and higher prices. In the past decade alone, green slip premiums in Sydney had rocketed by more than 85%.

Finally, fraudulent insurance claims were adding up to $75 per green slip.

Something needed to change.

What is the aim of the reforms?

The CTP reforms aim to reduce the time it takes for injured drivers to receive compensation and overall claim timeframes.

Additionally, the way benefits are allocated has changed, with compensation apportioned to seriously injured road users to help with their rehabilitation as they need it, rather than as a lump sum. New support services are available through CTP Assist.

The reforms are also bringing down the cost of green slip premiums by cracking down on insurance fraudsters who make exaggerated or false claims. Thanks to defined compensation for minor injuries like soft-tissue damage, there are fewer incentives to try and game the system.

In car news

Picture: Shutterstock

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One Response

  1. finder Customer Care
    MayMarch 27, 2018Staff

    Hi Ben,

    Thanks for your inquiry.

    You should be able to get refund on green slips for your company vehicle if you have cancelled registration of the vehicle and the RMS has confirmed this in writing. The letter will be used by the insurer to refund the unused portion of the green slip. They may also deduct an administration fee.

    Cheers,
    May

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