NZ Salary and wage earners will receive more net pay from the 1st of April as the ACC earners' levy drops to 1.70% from 2.04%.
What is ACC earners' levy? Find out here.
ACC Earners' Levy Rates
| Period | Levy Rate | Max Earnings Subject To Earners' Levy | Maximum Levy Payable | |
|---|---|---|---|---|
| (New) | 01/04/2012 - 31/03/2013 | 1.70% | $113,768 | $1,934 |
| (Old) | 01/04/2011 - 31/03/2012 | 2.04% | $111,669 | $2,278 |
For example, someone earning a salary of $70,000 per year will see their ACC premium drop from $1,428.00 to $1,190.00 - a saving of $4.58 per week.
A professional on $120,000 per annum would see their ACC levies drop from $2,278.05to $1,934.06
Why is ACC Earners' Levy being reduced?
According to the ACC Levy Consultation FAQ:
In the past year we've seen improvements in the variables that impact claim costs, such as claims numbers, the average cost of entitlements and rehabilitation, and we've also seen good growth in our assets.
2 Comments
You need to be logged in to comment.
Assets!!??
ACC why are we selling off the power companies???????
New levy rates come into effect on 1 April 2014.