18 BAY OF PLENTY BUSINESS NEWS <strong>February</strong>/<strong>March</strong> <strong>2018</strong> WORKPLACE HEALTH & SAFETY ACC – a tax or insurance? If your business insurance premiums went up 10 percent on last year you would call your broker pretty quickly and find out why. You have an expectation as to the cost and what you are actually covered for. Most employers do not look at their ACC levies the same way. Rather, they take what they are given and pay accordingly. Great for ACC, not so good for you. The average ACC saving we create is 41 percent and this has been true for the seven years we have been doing this gig. This tells us that employers really do not understand ACC levies very well… and overpay as a result. We encourage you to look at ACC with a cynical view as with any insurance, it is meant to be there if there is a need. So, what is the need or in other words, what is the risk that is being covered? In all honesty, I don’t blame them. The invoices have changed at least four times over the last six years; the way levies are calculated seems convoluted; most folk have at least one war story with ACC; and lastly, ACC is a government agency which doesn’t give us much confidence and the best <strong>of</strong> times. ACC for business is an insurance, it is there to cover a risk. Sure, it is compulsory however it is still an insurance. This means that we should look at it like all our other insurances… do we know the risk it covers? Once we do, then we guarantee you there are savings available and quite substantial at times. ACC covers two key areas – the shareholders and the workers. As a shareholder, do you need ACC and if you do, how much would you need at claim time? If you do not need ACC either because you will still get paid or you happen to have income protection insurance, then you can actually pay a lot less. Similarly, if you are like most business owners and never take any time <strong>of</strong>f, what are you actually paying ACC for? You are basically gifting ACC your money. Nice for ACC. As a business owner, what do you actually do in the business? At seminars I always like to shake everyone’s hands. Why? Because it allows me to see if they have clean fingernails and s<strong>of</strong>t hands. Ok, humour me on this one. if a bloke has clean fingernails and they have a scaffolding business… then there is a good chance they are not on the tools. This means we can potentially move them to a better suited levy code. Scaffolding is $2.26 per $100 <strong>of</strong> income. A management code by comparison is $0.14! So, my question to you is, what is your risk? For your workers, what business risk is being covered and is this even accurate for you? There are that many levy codes to choose from that 1 in 5 businesses is actually on the wrong code. Did you know we can back date this type <strong>of</strong> change four years? We encourage you to look at ACC with a cynical view as with any insurance, it is meant to be there if there is a need. So, what is the need or in other words, what is the risk that is being covered? This year ACC is working on a raft <strong>of</strong> changes to the way ACC is calculated. Some <strong>of</strong> the changes will be great however, it will be up to you to take advantage <strong>of</strong> them. As the only ACC brokers in NZ, it is our job to advise you <strong>of</strong> these changes. Like all brokers, we work on commission so no upfront fees for you. If we do not create savings there is no charge. It is something we are very passionate about and very good at doing. Manage Company <strong>of</strong>fers a monthly webinar series on how to make ACC work for you and your business. Give Martin a call on 021 322 286 or email martin@managecompany.co.nz to find out more. Martin Wouters, managing director Manage Company. ACC Training Be in the know, make it work for your business Webinar Series: How to make ACC work for you CLAIMS We teach you the fundamentals <strong>of</strong> claims. We cover recruitment; induction; claims processes; medical certificates; and disagreeing with ACC’s decision making. Best suited for all who want to understand the fundamentals <strong>of</strong> managing claims risk and not being controlled by ACC. Dates: 6 <strong>March</strong> 1pm, 10 April 12pm, 1 May 1pm, 5 June 1pm cost: $49.00 INSURANCE ACC and insurance have a lot in common – both cover risk, you can pay handsomely for it and it is <strong>of</strong>ten not well understood. We recognise this so we’re getting our inhouse experts to share with you what the insurance companies don’t. Over a series <strong>of</strong> webinars we cover compliance insurances, business insurances, group employee schemes, life and income protection insurances, buy sell agreements, the list goes on. Dates: 6 <strong>March</strong> 12pm, 10 April 11am, 1 May 12pm, 5 June 12pm cost: FREE SAFE + A new health & safety initiative by Worksafe, ACC and MBIE. We tell you what it is, how it works, how to align your business, and how to future pro<strong>of</strong> your business. The Safe+ scheme will get a big push from government this year so you may want to learn about this. Dates: 6 <strong>March</strong> 10am, 10 April 10am, 1 May 10am, 5 June 10am cost: $49.00 CPX Detail Just as the title would suggest we will go into CPX (CoverPlus Extra) in more detail for an in-depth understanding <strong>of</strong> the nitty gritty. CPX covers an individual’s risk which means we have to be very clear about what that risk is and how we manage it. We explore the needs analyses, application process, how to navigate ACC’s expectations, levels <strong>of</strong> cover, passive earners, and much more. Best suited to accountants. Dates: 6 <strong>March</strong> 3pm, 10 April 1pm, 1 May 3pm, 5 June 3pm cost: $49.00 Monthly Webinars Series How to register Register online at: manageacc.info/ monthlywebinars You will receive a confirmation email upon registering. This will provide a link to attend the webinar/s. Find more information for each topic online. If you have any quesitons please feel free to get in touch with Martin at: 021 322 286, or: martin@managecompany.co.nz
<strong>Bay</strong> <strong>of</strong> plenty First on the scene The recent <strong>Bay</strong> Venues-hosted BA5 at <strong>Bay</strong>park’s Indoor Sports Pavilion. Photos by: Helen Chapman Photography 1 1 Sharon Giblett (Jigsaw Solutions Group Ltd) and Tim Taylor (Stratus Blue). 2 Erin Narayan (<strong>Bay</strong> Venues), Robyn Coulter (Tha Page Works) and Gosia Costar (Life Care Consultants). 2 3 3 Gillian Houser (<strong>Bay</strong> Venues), Wayne Shadbolt (Interlink Communications), Alan Hewitt (Apricity), Anton Moonen (<strong>Bay</strong> Media Lts) and Stan Gregec (Tauranga Chamber <strong>of</strong> Commerce). 4 4 Les Geraghty (Harcourts Realty Advantage), Thea Straub (Harcourts Realty Advantage) and Huw O’Connor (Strategic Pay). 5 Peter and Jacqui Wren-Hilton (Wharf42 Limited). 5 6 7 6 Driftkarts: Tan Phuangdokmai (Avalon Aotearoa Charitable Trust) and Judith Russell (Connect2 Chartered Accountants). 7 Elena Smirnova (Trustpower) and Gary Benner (Onlearn Ltd).
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