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ACC levies for the self-employed: many self-employed regard ACC levies as just another annoying expense. But Tony Thomas says the levies deserve a closer look if you want better cover and lower premiums.

Publication: NZ Business
Publication Date: 01-JUN-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: ACC levies for the self-employed: many self-employed regard ACC levies as just another annoying expense. But Tony Thomas says the levies deserve a closer look if you want better cover and lower premiums.(on accounts)(Accident Compensation Corp)

Article Excerpt
All self-employed people and shareholder employees must pay ACC levies. These levies are compulsory and it is not possible to "contract out" of the scheme.

The scheme is somewhat bewildering however--particularly the invoicing method used by ACC. The type of ACC scheme that applies depends on whether the self-employed person operates through a company or as a sole trader.

Shareholder employees

If the business is run through a company, ACC levies will be based on the level of shareholder salaries paid by the company. The type of cover applicable in this situation is known as ACC WorkPlace Cover.

ACC obtains details of the shareholders salaries direct from Inland Revenue and uses this information...

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