Most employers will pay same levy
PA Wellington Most employers will pay the same or lower rates of accident compensation levy in the next financial year, says the Minister of Labour, Mr Rodger. However, the average rate for employers had increased from 71c to 77c per $lOO of payroll, Mr Rodger said yesterday. Announcing the new schedule of levies approved by the Cabinet, he said that 41 out of all the 111 classes of employers would pay a lower rate than in 1985-86, 19 classes would pay the same rate,
and for 51 classes the rate would rise. Self-employed people would continue to pay a levy of $1 per $lOO of income. The accident compensation scheme had now moved to a “pay as you go” basis with reserves being held only to meet short-term fluctuation? in expenditure and a small disaster reserve. The long-term reserves previously held to meet continuing costs of accepted claims were nearly exhausted. The increase in average levy rate was necessary to fund current expenditure, he said.
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Press, 8 February 1986, Page 4
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171Most employers will pay same levy Press, 8 February 1986, Page 4
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