ACC overpayments should be paid back

Published: Fri 24 Nov 2006 03:41 PM
Media release
24 November 2006
ACC overpayments should be paid back
ACC levy rates for next year indicate employers might not get reimbursed for past overpayments, says Business NZ.
The levy rates for 2007 were announced this week. The employer levy will remain at $1.21 for every $100 payroll.
Business NZ Chief Executive Phil O’Reilly says the levy should instead be reduced.
“There is a surplus of nearly half a billion dollars in the employer account, and this should be reduced over time by reducing employer levies.
“That $500 million is employer’s money. Keeping it as a surplus in the employers account just creates the temptation to use it for other purposes, like subsidising the self employed account or paying for non-workplace injuries.
“The employer levy rate needs to be recalculated so that employers get back their overpayments over time.
“The whole process of levy-setting needs to be more transparent.”

Next in Business, Science, and Tech

NZ EU FTA Coming Down To The Wire – Hold The Line, Says Business Forum
By: NZ International Business Forum
NZ space sector set to star in Moon mission
By: Ministry of Business Innovation and Employment
The Sky Is The Limit - Air New Zealand To Relaunch 14 International Routes In 16 Days
By: Air New Zealand
Cashing In On Carbon: The New Carbon Marketplace Helping Native Forest To Thrive
By: Carbonz
Entrust Dividend Will Be Welcomed After Another Tough Year
By: Entrust
NZ Economy: Prevailing Headwinds
By: BusinessNZ
View as: DESKTOP | MOBILE © Scoop Media