The Business Advisory Blog

The Business Advisory Blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents. Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

Greg Millar
Published on

Business tax update

The ACC levies have been set by regulation for the 2019-20 and 2020-21 tax years.

consultant-584For 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.

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Topics: Inland Revenue Department tax