Accident Compensation (Interest on Instalment Plans) Amendment Bill
ACC (the government body that handles injury compensation) charges employers extra interest when they pay their levies (fees) in instalments rather than all at once. This bill makes that interest charging officially legal — including backdating it to cover the past, since ACC was doing it without a clear law allowing it. It also sets up rules so the government can formally decide the interest rate by regulation in future, and requires ACC to consult employers before recommending a rate.
What this affects
Tap a topic to see how this bill touches it — with the parts of the text it’s based on.
Employers who pay their ACC levies in instalments over 10 months will continue to be charged 2.73% interest, now with a clear legal backing, and future interest rates will be set by government regulations after consultation with employers.
The Corporation may charge interest as prescribed by regulations on any levy collected by instalments.
2.73% on the total amount of levy collected over a 10-month instalment period
The Corporation must consult levy payers on the proposed rate of interest payable on a levy collected by instalments... before recommending to the Minister that regulations be made
Progress through Parliament
Have your say
Submissions open once a bill reaches the select committee stage. In the meantime, you can write to your local MP about it.
Write to your MPBill text sourced from legislation.govt.nz (Parliamentary Counsel Office). Arapono’s summary and breakdown are drafted with AI grounded in that official text and reviewed by an Arapono editor for accuracy and neutrality before publishing. Arapono is non-partisan and takes no position on this bill.