Select the right period-end date for direct credit payments to IRD
We are pleased to see that an increasing number of our clients are making payments to the IRD online. Forward dating payments will ensure that the payment arrives on the due date, and provide appropriate cash management.
If you make your payments to the IRD through online banking, please make sure you enter the correct period-end date the payment is for. Some online banking sites are designed to populate 12 months in advance, ie, you select "GST" for the period 30 April 2013 but the period will automatically pre-populate as 30 April 2014.
It's important to select the correct period and year or you could receive incorrect penalties and unnecessary correspondence. Use the drop-down box to select the correct period/year.
Activity around ACC continues to be brisk - and we alert you to the following changes:
Workplace safety discount
Note that there have been some recent changes to the workplace safety discount. The discount is available to self-employed or small to medium sized businesses that demonstrate good health and safety and management practices. The discount of 10% (off work-related component of levies) applies for three years. In order to qualify, levy payers must meet the following criteria:
Note that in order to receive this discount, you will need to have an on-site audit of your health and safety management systems by an ACC approved auditor (an external auditor approved by ACC).
- Have total annual ACC liable payroll of $537,000 or less OR
- Employ no more than 10 full-time equivalent staff AND
- There is a staff member responsible for workplace health and safety management practices that has completed a training course, or can show experience in hazard identification and management, incident and accident investigation, staff training in health and safety matters and emergency management procedures.
2014/2015 levies to fall
Another initiative, mentioned in the last budget, which will be welcomed by many business people is the indication that ACC levies will fall by around $300m in the 2014/2015 year, and by up to $1b in the 2015/2016 year. This will benefit households, businesses and wage earners. Again, we do not have the detail of how reductions will be spread over various levy payers, but it will be a welcome move.