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Wellington, March 31, 2017
A reduction in the Work levy and maintenance of the Earners’ levy will come into effect on 1 April 2017. These include (a) 10% decrease in the Work Levy and (b) Maintaining the Earners’ Levy at 1.21 per $100 of earnings.
The Work levy and the Earners’ levy rates for the 2017- 2019 levy period were confirmed by the government last December.
Following is a statement issued by ACC Board Chair Dame Paula Rebstock.
Improved funding
The 10% reduction in the Work levy paid by employers and those who are self-employed is a result of ACC’s improved funding position for the Work Account.
All employers and self-employed people working in New Zealand pay a Work levy that goes into the Work Account to cover any accidents that happen in the workplace.
The Earners’ levy rate, paid by all working New Zealanders through their salaries and wages, will remain at the current rate of $1.21 per $100 of earnings for the next two years.
The Earners’ levy covers accidental injuries that happen outside of work.
For example, weekend DIY, playing netball or gardening.
Minimising risks
ACC will continue to invest the levies in injury prevention programmes to minimise the risk of injuries before they happen. Making New Zealand workplaces healthier and safer is a priority for ACC.
The levies were calculated based on the estimated lifetime costs of new claims and the funding position of ACC’s Accounts as at 31 March 2016.
For more information on the new Work levy rates and the Earners’ levy, please visit www.acc.co.nz or for background on the levies and the consultation process, please visit www.shapeyouracc.co.nz
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