Under the Accident Compensation Act 2001, Inland Revenue is required to provide the earnings information at Box 39B from this return to the Accident Compensation Corporation (ACC). The information is used by ACC to invoice all ACC levies. ACC invoicing for close companies (including earners’ levy for shareholder-employee earnings with no PAYE deducted) starts from September each year.
Maximum earnings from multiple companies
The maximum amount of earners’ levy that can be collected from a shareholder-employee is $1755.37. A shareholder-employee may be due for a refund from ACC if the shareholder-employee’s combined total remuneration from two or more companies is over $126,286. Please call ACC on 0800 222 776 to find out about the refund process.
ACC earners’ levy
Shareholder-employees’ salaries or directors’ fees without PAYE deducted are liable for ACC earners’ levy. The company will be invoiced by ACC for this levy. For more information about refunds or levies, please go to www.acc.co.nz or call ACC on 0800 222 776.