Business tax update
The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years.
For both tax years the earners’ levy remains the same at $1.39 (GST-inclusive) per $100 liable earnings. The minimum liable earnings for self-employed workers increases from $32,760 to $36,816.
The maximum liable earnings will increase for:
- self-employed people from $124,053 to $128,470 in the 2019-20 tax year, and to $130,911 in the 2020-21 tax year.
- employees and private domestic workers from $126,286 to $128,470 in the 2019-20 tax year, and to $130,911 in the 2020-21 tax year.
Managing your business
Managing your business effectively is in the detail. It’s about keeping on top of all the ‘day to day’ administrative and accounting aspects of business ownership and asset management. At Alliott NZ we prepare, analyse and regularly report back to you on a complete range accounting and financial information that you need to help you make decisions about your business. Call us in Auckland today on 09 520 9200.