Employer invoicing by ACC takes place in July and is based on employee earnings for the year ended 31 March.
Your ACC Premium consists of:
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 Residual Claims Levy Rate covers ongoing costs for old injuries that occurred before 1999. In 1999 the ACC funding was changed to cover the full lifetime costs of injuries that occurred in that year.
The IRD provides 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.