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Home / News and events / Latest news and articles / ACC Earners’ Levy and Student Loan Threshold Changes

ACC Earners’ Levy and Student Loan Threshold Changes

ACC Earners’ Levy and Student Loan Threshold Changes

ACC Earners’ Levy is increasing

The ACC Earners’ Levy is the employee’s contribution to ACC.

It will increase from $1.53 per $100 (1.53%) to $1.60 per $100 (1.60%) on 1 April 2024. This levy is charged at a flat rate each year.

Veterans receiving Weekly Income Compensation and Weekly Compensation will be impacted by  the ACC Earners’ levy increase from 1 April 2024.

More information on the ACC Earners' Levy on IRD.govt.nz(external link)

Student Loan Threshold is increasing

For veterans with a student loan, 12% of every dollar earned over the threshold amount is repaid toward the loan.

The annual threshold is increasing from $22,828 to $24,128 on 1 April 2024. For weekly payrolls, this means the threshold will increase to $464 per week.

More information on student loan thresholds on IRD.govt.nz(external link)

Date

20 March 2024

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Last Modified: 20 March 2024
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