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ACC Premiums

 
ACC - 20 January 2012

ACC invoices employers beginning in July, based on employee earnings for the year ended 31 March.

There are three components to your ACC Premium:

  • ACC Workplace Cover Levy - your classification unit rate x each $100 of liable earnings.
  • Residual Claims Levy - your residual claims levy rate x each $100 of liable earnings.
  • Health and Safety in Employment Levy - 5c x each $100 of liable earnings.

Your classification unit is a grouping of all businesses that operate within a similar field to you. The Classification Unit Rate is based on the cost of work-related injuries that occur within your classification unit, so that it is spread evenly amongst those businesses in the same field.

The Residual Claims Levy Rate covers the shortfall of treating and rehabilitating people who were injured in the workplace before 1 July 1999. ACC funding was changed in 1999 to cover the full costs of injuries that occured in that year onwards.

The IRD provide ACC with your liable earnings data from employer monthly schedules payroll data. ACC is then able to calculate your ACC Premiums payable.

For further information on ACC premiums visit the ACC website.

 

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All information is correct at the date of article publication. Please note we provide the information as a service only. Accordingly, the contents are not intended as a substitute for specific professional advice and should not be relied upon for that purpose.   


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