Like any bill, you can reduce payment pain by planning ahead. The key thing is to put aside money throughout the year to spread the costs. Any interest earned in a savings account can help cover the levies, Our website has useful information on ACC levies and a visual guide to making tax time easier.

Don’t spend the money you’ve set aside on other things, or you’ll scramble to make up the difference when the payment date rolls around.

What will my levies cost?

How much you pay in levies depends on:

• your industry code, based on the type of work you do
• your wage bill
• whether you’re self-employed
• the type of work vehicle you have.

You’ll find your industry code on the Business Industry Classification Code website.

To give you an idea of how much your levies will be — and how much you need to put aside — use the  calculators on the ACC website. ACC calculates your levy based on liable earnings information you provide Inland Revenue. So the true levy may differ from the ACC calculator estimate.

Pay on time

ACC can charge penalties on unpaid and overdue levies, so make sure you pay on time. Set up free email and text alerts from the ACC Online Services website so you don’t forget when payments are due. If you’d prefer to pay in instalments rather than a lump sum, call ACC on 0800 222 776 to arrange this.

Safety savings

ACC rewards self-employed business people and small businesses for putting in place health and safety systems. If your business has fewer than 10 employees or a yearly payroll of $578,000 or less, you may be eligible for a 10% reduction in your work levy. Our website has useful tips and advice on keeping your people healthy and safe.

 Workplace safety discount — ACC

Vehicle fleet savings

Businesses that own five or more goods vehicles — with maximum operating weights of more than 3,500kg —and can demonstrate good safety management, may be eligible for up to 40 per cent off their vehicle levies.  Check your vehicle classification on the NZTA website.

 Fleet Saver Programme — ACC

 

More information:

 Your invoice pack — ACC

 How to pay — ACC

Cash flow forecasting: Estimated outgoings — Business.govt.nz