HOW DO ACC AND OTHER
GOVERNMENT BENEFITS HELP?
In New Zealand we are privileged to have ACC but it only applies to accidental injuries. This is 80% of your “taxable income” but ACC does not pay anything if you become ill and cannot work, or die from disease. Degenerative conditions that haven’t been caused by your work are also not covered. There are other government benefits but these are not related to what you earnings, e.g. a Sickness Benefit of $229.01 per week if you are single, or $381.68 for couples; ACC and the Sickness Benefit are taxable.
For a more detail Q & A on Income Protection click here: FSC