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Budget 2024 | The Government has announced proposed changes to personal income tax, the independent earner tax credit, in-work tax credit, the minimum family tax credit and the interest rate charged for overseas based student loans. They have also provided more information on FamilyBoost. Find out more:

ACC are refunding levies to over 300,000 business customers for historical overpayment issues.. ACC may also make a compensation payment to those affected.

Your tax obligations if you overpaid your ACC levies

If you previously claimed the levies as a deduction, the refund of overpaid levies is considered income.

You must return it in the income tax return that covers the year you received the payment in. For most customers this will be the 2019 tax year

For example, if you receive your refund on 15 March 2019 it must be returned in your 2019 income tax return (31 March balance date).

The compensation payment for the refund is not taxable and does not need to be returned as income

For more information contact ACC or go to their website.

ACC's website