ACC worker levy cuts expected
Workers may fork out less for ACC next year.
The corporation today revealed its proposals for cuts to employer and earner levies for the 2014/15 financial year alongside reductions for vehicle registration.
In most cases, ACC is proposing cuts, made possible by its financial position.
Workers now pay $1.70 for every $100 earned.
While ACC has not provided examples on the practical effect of the changes, it would appear to give another 25 cents for every $100 earned, or $127.50 for those earning $50,000 a year.
Work levies - paid by employers on behalf of workers - are proposed to fall by 17 per cent.
ACC chairwoman Paula Rebstock said the recommended levy cuts had been made possible by ACC's improved financial situation, with the scheme on-track to having sufficient assets to meet its liabilities by 2019.
"We're not quite there yet. Although we achieved a surplus last year, the scheme's liabilities still exceed its assets by $2.3 billion. But we're confident our recommended levy cuts are sustainable."
The final decision on levies rests with the Government.