Tax Facts – ACC Premiums
Employer invoicing by ACC takes place from June each year and is based on employee earnings for the year ended 31 March.
Your ACC Premium consists of:
- ACC Workplace Cover Levy – your classification unit rate x each $100 of liable earnings.
- Working Safer Levy – 8c x each $100 of liable earnings.
The Classification Unit Rate is based on the actual cost of work-related injuries that occur within your classification unit. A classification unit is a group of businesses that operate within a similar industry.
The IRD provide ACC with relevant earnings data from employer monthly schedules. From this information, ACC calculates the total levies due.
For more information on ACC premiums just give us a call or visit the ACC website.