An effective tax cut for workers and businesses applies from today with a reduction in ACC levies.
ACC Minister Judith Collins says it amounts to $387 million total saving and is a result of the scheme’s “excellent performance” over the past few years.
“It marks the 40th birthday of the Accident Compensation scheme and it’s great that New Zealanders will be celebrating by keeping more money in their pockets,” she says.
The average household will be just over $200 better off each year from today, while small businesses will gain around $180 in saving. Larger employers will receive, on average, a $6000 reduction.