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ACC levies higher than needed

ACC levies higher than needed

Business NZ says the ACC employer levies for next year are higher than they should be.

ACC had recommended next year’s levies be set at 89 cents per $100 of payroll – two cents higher than that proposed to employers during consultation earlier this year. But the Minister has set the levy higher still, unchanged at 90 cents.

Business NZ Executive Director Anne Knowles said there were already large unspent surpluses in the Employers’ Account (over $115 million as at 30 June 2002), and the levy already contained an extremely high prudential margin (15% instead of 5% which would be more appropriate for a state-owned system with the power to make up shortfalls through taxation).

“Employers hope the substantial surpluses will now be used to extend discounts for good safety records to small and medium sized businesses,” Ms Knowles said.

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