Individual income tax return guide 2011 - Inland Revenue Department

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IR 3 INDIVIDUAL RETURN GUIDE
Shareholder-employees
Other income
In addition to your shareholder’s remuneration, you may also have
received other income liable for ACC levies, such as self-employed
income. ACC will take your shareholder-employee remuneration into
account if invoicing for additional levies.
Maximum earnings from multiple companies
The maximum amount of ACC earners’ levy deductions is $2,244.36.
You may be due for a refund from ACC if your shareholder-employee
remuneration is from two or more companies and the combined total is
over $110,018. Please call ACC on 0508 426 837 to find out more about
the refund process.
Mixed income
Mixed income earners are those who have a combination of employee
(including shareholder-employee remuneration without PAYE deducted)
and self-employed earnings. If you’re in this situation you have to pay
ACC levies on both sources of income, up to the maximum. ACC will
invoice you for the amount you’ll have to pay.
Current year losses
If you were in full-time employment and have recorded a loss, or your
earnings are below the minimum earnings threshold, you’re still liable for
ACC levies. These will be calculated at the minimum level.
IR 56 taxpayers
If you’re a private domestic worker, you’ve already paid ACC earners’ levy
on your IR 56 income as part of your PAYE.
ACC will invoice you as an employer for other levies payable on your
IR 56 income. If you also receive other income liable for ACC levies, we’ll
pass this information to ACC to invoice levies on this income. ACC will
make allowance for levies paid as an employer.
Further information
If you have any queries about ACC or levies payable, go to
www.acc.co.nz/productslevies or contact the ACC Business
Service Centre:
Phone 0508 426 837
Fax 0800 222 003
Email business@acc.co.nz