ACC (Accident Compensation Corporation) has always been legally obligated to collect levies on overseas business or self employed earnings, however they never did because of a technicality in the way Inland Revenue collects the information.
However from the 2023 financial year onwards Inland Revenue can now provide more detailed overseas income information to ACC which allows them to generate an ACC invoice for the taxpayer.
So please be aware that if you have overseas earnings – you may receive (or have received) an invoice from ACC.
If you have any questions relating to an invoice received – it’s worth giving them a call to make sure they’ve got everything correct depending on your particular situation.
About Kiwitax – Award winning business improvement, tax and accounting service
Here’s the thing. As a business, rental property owner or start-up, you get a kick out of having your own gig. But chances are dealing with your tax and accounting leaves you cold. Good news! We love it, so hand it over to Kiwitax and we’ll look after it all for you.
Whether you deal with us online, by phone or drop into our Napier office, you’ll find a friendly, professional hardworking team ready to work with you, however you keep track of your financial information and from wherever you do business. And all for a fixed price. It takes just two minutes to get a quote.
Plus if you’re at a loss to know how to improve aspects of your business – from growth planning to cashflow management, even tax debt and so much more – we’re all over that too. Our Business Improvement Advisors can help you make a plan and put it into action.
Kiwitax are a preferred training provider for Business Improvement services through the Regional Business Partner Network Capability Voucher Scheme. This is a government funded scheme designed to boost business capability by providing funding of up to 50% of approved training programs with specified training providers up to a maximum value of $5000.
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