Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Lower ACC levies welcome

Media release
17 September 2013

Lower ACC levies welcome

BusinessNZ has welcomed the prospect of lower ACC levies.

ACC consultation documents show employer, employee and motor vehicle levies are set for reductions of 15 – 17 percent next year.

BusinessNZ Chief Executive Phil O’Reilly says better management of the ACC scheme, based on sound insurance principles, is starting to deliver lower premiums.  

Experience rating, where employer levies can be reduced in response to a safe work history, is helping to keep the premiums down.

The work and earners accounts are now fully funded and the position of the motor vehicle account is starting to improve.

A proposal to introduce risk rating for cars based on crash results is also a positive move, as safety features in newer cars can significantly reduce the number and severity of road injuries.

But the continued significant cross-subsidisation in the motor vehicle account is still a concern, Mr O’Reilly says.

“Car owners are still significantly subsidising motorcycle owners.

“Overall transparency could be improved, with an independent body preferable to the current political levy-setting process.

“ACC has the potential to be still better governed and managed, to further reduce accident numbers and improve rehabilitation outcomes.”    


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news