All businesses, contractors and self-employed people choose a business industry classification (BIC) code. This is used to calculate your ACC levies and by Inland Revenue and Statistics New Zealand for statistical and reporting purposes.
Your BIC code corresponds to your business industry description, based on the main activity you’re involved in. Picking the right BIC code is easier now with the revamped Business Industry Classification Code website (external link) , developed by ACC, Inland Revenue and Statistics New Zealand. The search function has been improved, and its cleaner look and clearer instructions will help you accurately select your BIC code. It also has been designed for use on mobiles and tablets.
You give your BIC code to government agencies when:
And ACC uses your BIC code to derive the correct classification unit and levy rate your business pays to cover workplace accidents.