Kiwi businesses will save around $100 million over the next two years thanks to reduced ACC Work Account levies that take effect this Monday 1 April, says ACC Minister Iain Lees-Galloway.
“Monday marks the beginning of the financial year for many businesses, and I am pleased to say that businesses and self-employed workers will be paying fairer ACC levies for the next two years. This is another step this Government has taken to share New Zealand’s prosperity more fairly,” says Iain Lees-Galloway.
“ACC levies are paid by all Kiwi businesses to protect and ensure the wellbeing of their workers. With ACC’s accounts in a healthy state, the government has been able to reduce these levies, ensuring they are fair for businesses and no higher than needed to meet the lifetime cost of injury claims.”
Key aspects of the levies include:
- the average Work Account levies paid by employers and self-employed people will decrease from 72 cents to 67 cents per $100 of liable earnings, and
- the Earners levies, generally paid through PAYE, will remain at its current level of $1.21 per $100 of liable earnings.
“The wellbeing of New Zealanders is paramount. ACC levies ensure that Kiwis are protected and cared for in the case of an accident anywhere – whether at work, at home or on the road,” says Iain Lees-Galloway.
ACC levies are reviewed every two years.