Section 232 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Residual Claims levy and Work Account levy payable by employers on disposal or cessation of business or when ceasing to employ

232 Residual Claims levy and Work Account levy payable by employers on disposal or cessation of business or when ceasing to employ (1) This section applies to every employer who disposes of or otherwise ceases carrying on a business in respect of which the employer is liable to pay a Residual Claims levy or a Work Account levy or who continues the business as a self-employed person without employing any other person. (2) An employer must, by the 15th day of the second month after the month in which the employer disposes of or ceases carrying on the business or continues the business as a self-employed person without employing any other person,— (a) notify the Corporation of the date of disposal or cessation of the business or of continuing the business as a self-employed person without employing any other person; and (b) deliver to the Corporation the statement referred to in section 193 for that part of the last tax year during which the employer was in business; and (c) pay to the Corporation the Residual Claims levy in respect of the earnings required to be specified in that statement. (3) An employer must— (a) notify the Corporation of the date of disposal or cessation of the business or of continuing the business as a self-employed person without employing any other person; and (b) provide the Corporation with a statement of the relevant employee earnings for that part of the last tax year during which the employer was in business. (4) As soon as practicable after receipt of information regarding an employer's relevant employee earnings for the last tax year, the Corporation must calculate the Work Account levy based on the relevant employee earnings actually paid by the employer for the tax year and comply with section 173(2) in respect of any overpayment or underpayment of levy. Compare: SR 1999/196 r 19 The heading to section 232 was amended, as from 1 April 2007, by section 13(1) Injury Prevention, Rehabilitation, and Compensation Amendment Act 2007 (2007 No 8) by substituting “ Work Account levy ” for “ employer levy ” . See sections 14 to 16 of that Act for the transitional provisions. Subsection (1) was amended, as from 1 April 2007, by section 13(1) Injury Prevention, Rehabilitation, and Compensation Amendment Act 2007 (2007 No 8) by substituting “ a Work Account levy ” for “ an employer levy ” . See sections 14 to 16 of that Act for the transitional provisions. Subsection (2) was amended, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35) by substituting “ tax year ” for “ income year ” . Subsection (2)(a) to (c) was amended, as from 1 July 2005, by section 42 Injury Prevention, Rehabilitation, and Compensation Amendment Act (No 2) 2005 (2005 No 45) by substituting “ Corporation ” for “ Commissioner ” . Subsections (3) and (4) were amended, as from 1 April 2005, by section YA 2 Income Tax Act 2004 (2004 No 35) by substituting “ tax year ” for “ income year ” in all places in which they appear. Subsection (4) was amended, as from 1 April 2007, by section 13(1) Injury Prevention, Rehabilitation, and Compensation Amendment Act 2007 (2007 No 8) by substituting “ Work Account levy ” for “ employer levy ” . See sections 14 to 16 of that Act for the transitional provisions.