This is a little article on ACC and their invoices. I will outline when you can expect to receive your invoices from ACC and what they exactly pay for. Its always a little hard receiving an unexpected bill no matter what it is for. Hopefully after reading this article we can take out the uncertainty around the timing of your ACC invoice.
It’s also important to see where your money is being spent, I have included a neat diagram which outlines the different areas ACC payments are being allocated in New Zealand. Be Careful at home apparently!!
The dates of the invoices are broken up into the following three categories:
Business employing staff
You can expect to receive your invoice for your employees between July and December each year. This includes any wages you’ve paid to yourself. This covers injuries that happen at work.
Shareholder-employee & Self Employed:
If you are a shareholder-employee you should receive your invoice from August, soon after you file your tax return with Inland Revenue. This covers the ACC which all employees pay through the PAYE system. This covers injuries that happen outside of work.
If you’re new to self-employment, ACC wont invoice you until your second year of self-employment.
ACC Cover Plus Extra:
CoverPlus Extra is an optional product that lets self-employed people negotiate a pre-agreed level of compensation for lost earnings. If you opt for CoverPlus Extra you’ll receive two invoices each year; the first in April/May and the second soon after your tax return has been filed with Inland Revenue.
We recommend this for many of our customers as it saves them proving a loss of income if they’re off work due to an accident. Check here to see CoverPlus Extra, or otherwise have a chat to your insurance broker. We’re happy to make an introduction to a broker if needed.
ACC’s website is full of useful information and it is relatively easy to operate if you have any questions regarding your invoices, I suggest you look on their website. They have loads of useful information of how your invoice is made up.
Where your money gets spent
The top-level categories are prioritised in order of Road, Work, Sport and Recreation, and Home and Community.
As we can see it’s important to be safe around the family home, please be careful when going up and down stairs. Also, anyone who is a keen DIYer, please ensure you follow all safety measures possible.
It’s interesting to see where the money is being spent around the country and what to personally look out for.
As I stated before, for any more information regarding ACC, please look on their website is full of useful information. I hope this article has been somewhat useful and somewhat interesting. I know I have found it hard to believe that people injure themselves jogging 🙂