Types of cover for shareholder-employees

Workplace Cover is our standard cover for all shareholder-employees. Your non-PAYE shareholder-employees can manage their own levies by applying for CoverPlus Extra.

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    Standard cover for shareholder-employees

    Your business’ Workplace Cover automatically covers your shareholder-employees. They’ll get the same benefits under this cover as your regular employees.

    Find out more about Workplace Cover

    Let non-PAYE shareholder-employees manage their own levies

    Your non-PAYE shareholder-employees can choose to apply for CoverPlus Extra. This will let them choose how much of their income they want covered if they've had an accident and can't work.

    How CoverPlus Extra works

    How we calculate your shareholder-employee levies

    Inland Revenue provides us with a summary of your shareholder remuneration information. We use this combined with your CU (what work you do and the industry you’re in) to calculate your levy. For many shareholders we also take into account your claims history.

    Working out how much you need to pay

    How your claims history affects your levies

     

    Classification Unit

    A description of your business activity. This is based on your Business Industry Classification (BIC) code.

    Find your BIC code

    How we invoice you for shareholder-employees

    When we invoice we’ll include the levies for your:

    • PAYE shareholder-employees in your regular Workplace Cover invoice
    • non-PAYE shareholder-employees in a separate invoice.

    Deduct the Earners’ levy from your PAYE shareholder-employees’ income like you would for regular PAYE employees.

    If you have any shareholder-employees on CoverPlus Extra, we'll invoice them directly for their Work and Earners' levies. We'll include their Working Safer Levy in the your invoice for non-PAYE shareholder-employees.

    Explaining your invoice

    Let non-PAYE shareholder-employees manage their own levies

    Your non-PAYE shareholder-employees can choose to apply for CoverPlus Extra. This will let them choose how much of their income they want covered if they've had an accident and can't work. If they don’t apply for CoverPlus Extra, they will be on the standard cover (CoverPlus).

    How CoverPlus Extra works

    Contact us

    Let us know if you have any questions:

    Email business@acc.co.nz
    Phone 0800 222 776  (Monday to Friday 8:30am – 5pm)

    Last published: 27 October 2020