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Tax Talk - ACC's levy reductions

ACC is continuing to deliver on levy reductions.

This year the average levy paid by employers and self-employed people in Work Account levies will fall to 90 cents per $100 of liable earnings, down from 95 cents.

Indicative rates for levels of cover for the 2015/16 levy year will be effective from 1 April:

 

ACC CoverPlus

ACC CoverPlus Extra

Maximum

$1,818.32/week

$94,553/year

(80% of $118,191)

$1,847.23/week

$96,056/year

(80% of $120,070)

Minimum

$456/week

$23,712/year

(80% of $29,640)

$456/week

$23,712/year

(80% of $29,640)

 

Vehicle licensing

On 1 July 2015 the ACC vehicle licensing levy is being reduced. The cost of relicensing most vehicles will drop by around $130 a year. If you need to renew your vehicle's registration before then, you can save money by renewing your registration to expire in July 2015. Note that the relicensing form and online renewal allow you to specify the number of months, and is not confined to three and six monthly periods only. When your vehicle licence expires after 1 July 2015 the reduction will automatically be applied to your renewal.

The reduced levies will apply to commercial and private light passenger vehicles, cars, utes, vans less than 40 years old and weighing less than 3500kg. They will not apply to motorcycles or mopeds in 2015. Motorcycle-related injuries continue to generate disproportionately high costs for ACC and motorcycle levies are already heavily subsidised by owners of other types of vehicles.