August 2023 Business Update
ACC Levy Invoices 2023
Employers should have received their 2023 employer ACC levy invoice within the last month.
Shareholder/Self-employed invoices will have been issued over the past month if your 2023 tax return has been filed.
Can you please get in touch and let us know as soon as possible if you:
Have not received your employer ACC invoice (we can check on the status of it online) or;
Need to update your ACC postal address and/or email address.
Alternatively, you can create a MyACC account to manage your ACC or contact ACC directly to make any changes to your ACC account and setup a monthly payment arrangement for outstanding ACC.
For more information click here
Provisional Tax 2024
The first payment for 2024 Provisional Tax is due on August 28 2023.
We will have sent you a email tax letter if you are required to make a payment on this date.
If you believe you were supposed to receive correspondence from your accountant but haven't, please check your mailbox and send an email to your accountant to clarify the amount due for payment.
For more information click here
IRD Use of Money Interest Rate Change
The underpayment rate for IRD Use of Money Interest (UOMI) has increased to 10.91% (up from 10.39%).
The overpayment rate increased to 4.67% (previously 3.53%).
These changes are effective from 29 August 2023.
For more information click here
IRD Support for Construction Workers
IRD has introduced a new program to support construction customers. This initiative includes:
Meaningful discussions with customers about their business and how they are doing.
Tax and entitlement guidance.
Promoting the importance of tax agents/bookkeepers.
Ongoing customer support.
IRD is planning two methods for this pilot:
Direct Emails: Sending support emails to construction customers, guiding them to the Tax Toolbox on the website.
Outbound Calling Support: Personalised phone outreach with pre-call checks, including discussions about the benefits of tax agents/bookkeepers.