Acc Business Classifications

Have you found that when you assign your company the right ACC rating, there are no specific categories for signage, but many for tiny obscure industries, and while it can be argued that one sign business can largely be design and printing, another that largely manufactures the final product is the same – signage. To find out about your main trading or trading activity and your code, go to…. However, careful consideration needs to be given to which variables could affect such large increases in levies. An individual business reason could be an increase in payroll/number of employees and/or situations where the business owner has already made drawings and has not been part of the company`s payroll, but has since switched to wages/salaries. Another variable to consider would be to offer a new/or additional service, such as installation, which would make it clear that more health and safety regulations and processes are needed, so this signaling role becomes a high risk, making delivery automatically higher than a desk roll. The tax office is required to provide the accident compensation corporation (VAC) with a code for your business or business activity in order to classify and calculate the levy. We have a guide that helps create correct tax classifications. This was put in place by VAC consultants on our behalf because they believe these codes are best suited to our industry. So, since you know that there is no way around your tax classification, it is best to make sure that the cost of setting up the business is charged at a higher rate to compensate for the tax increase. Another option could be to outsource all installation services to specialized installers who are fit for purpose and who have all processes and procedures in place to account for health and safety and a higher sampling rate.

Most importantly, it is necessary to think about the purpose or outcome of your business activities. For example, if the only services or activities you offer are design and printing, make sure your classification is correct for your production – this is essential if you want to avoid an increase in picking fees. If your business is affected by the royalty increase, please contact us as we can help you with a guided process that VAC can follow to accept bids. If you would like more information about the submission consultation process, you can find it here on the CCA website under and here When the CCA classifies a business, it takes into account the activity in which the employer is involved, not the obligations of shareholders, directors or individual employees within the corporation. Activity means the external service provided or the product manufactured or sold. It is important to note that ancillary or secondary functions such as installation, design and management are not classified separately and are part of the overall business activity. Whichever activity holds the highest levy, it will be the levy that will be charged to the company. And ACC uses your BIC code to derive the correct classification unit and tax rate your company pays to cover workplace accidents. It is important that you choose the code that most accurately reflects your main business or business activity. If you are unable to identify the correct code, call ACC on 0508 426 837 for assistance. All companies, entrepreneurs and self-employed people choose a BIC (Business Industry Classification) code.

This is used to calculate your ACC levies and by Inland Revenue and Statistics New Zealand for statistical and reporting purposes. Your BIC code corresponds to the description of your industry based on the main activity in which you are involved. Choosing the right BIC code is now easier with the revised Business Industry Classification Code website (external link) developed by ACC, Inland Revenue and Statistics New Zealand. The search function has been improved, and the cleaner look and clearer instructions will help you choose your BIC code accurately. It is also designed to be used on mobile phones and tablets.