ACC Invoices and Updates
Updates to ACC Levies on Overseas Income
There are changes coming to how ACC and IRD communicate with regards to Overseas Income for Individual Tax Returns.
Previously Overseas Income wasn’t broken down when sent to ACC and was included in with the non-ACC leviable foreign earnings. Now IRD can provide ACC with a more detailed breakdown of overseas income information. As a result, ACC are now obliged to levy this income.
This change will come into effect and impact the 2023 ACC Levy invoices and will include earnings received between 1 April 2022 – 31 March 2023.
It does not impact:
CoverPlus Policyholders
For those of you who have a CoverPlus policy, ACC will be issuing invoices from September. Now is the perfect time to check your self-employed details are correct with ACC. This will help to ensure you are invoiced correctly.
Information you need to check:
These details need to be checked and any changes made prior to 21 August 2023.
There are changes coming to how ACC and IRD communicate with regards to Overseas Income for Individual Tax Returns.
Previously Overseas Income wasn’t broken down when sent to ACC and was included in with the non-ACC leviable foreign earnings. Now IRD can provide ACC with a more detailed breakdown of overseas income information. As a result, ACC are now obliged to levy this income.
This change will come into effect and impact the 2023 ACC Levy invoices and will include earnings received between 1 April 2022 – 31 March 2023.
It does not impact:
- An employee of a New Zealand company, including as a shareholder-employee. They’re levied on their income regardless of whether their work takes place overseas.
- New Zealanders receiving passive income, such as pensions, from overseas sources.
- Self-employed people who file IR3NR non-resident returns.
CoverPlus Policyholders
For those of you who have a CoverPlus policy, ACC will be issuing invoices from September. Now is the perfect time to check your self-employed details are correct with ACC. This will help to ensure you are invoiced correctly.
Information you need to check:
- Classification Unit – This affects the levy you will pay.
- Employment Status – Whether you’re working Full Time or Part Time. Also, you need to advise ACC if you are no longer trading.
- Contact Details – Check postal address, email address & communication preference.
These details need to be checked and any changes made prior to 21 August 2023.
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