This involved extensive consultation with government agencies responsible for policy formulation and administration, non-government analysts of industry structure and performance, and industry experts. The term business entity is used in its widest sense to include any organization undertaking productive activities, including companies, non-profit organizations, anzdic departments and enterprises. Output areas will anzsix to drop the trailing zeroes from their outputs at the class level. ANZSIC is widely used by government agencies, industry organizations and researchers for various administrative, regulatory, taxation and research purposes throughout Australia and New Zealand. Administrative and Support Services. Health Care and Social Assistance.
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A Business Industry Classification BIC code is a way of classifying a self-employed person or business by their main activity. Activity means the service or product a business or self-employed person provides to others. Why is it important to choose the correct BIC code? Choosing the correct BIC code means the information held by these agencies for you or your business is correct. For more information, see the Calculating your levies section on the ACC website.
Inland Revenue uses the BIC codes for statistical analysis. Not supplying a BIC code could mean an incorrectly calculated levy invoice being sent to you.
You should provide details of the change to: ACC email business acc. ACC uses CUs to group together businesses or individuals to ensure levies are fair. You will see the CU on your levy invoice. To find out more, visit the Statistics NZ industrial classification , or use their code finder tool. You need to select the BIC code that reflects the main activity undertaken by you or your business.
If you are: self-employed, the activity relates to what you do to earn an income, not what the business you may work for does. Tasks that support the activity eg administration, management, marketing and distribution, technical support, maintenance, and product development are treated as part of the activity, not as separate activities unless you are in a partnership. If you are in a partnership where one partner is a plumber and the other partner does the administration, the activity of each partner relates to the work they do.
If you have passive earnings, you still need to select a BIC code. Search tips: Be specific with your search. If you are involved in the assembly of products, search for the manufacturing code of the products assembled. If you sell products to the general public through a shop, search for the products you retail. If you do not sell products to the general public through a shop, for example you sell exclusively via the internet, market stalls or catalogues, browse Non-store retailing and select the relevant code from there.
If you sell products mainly to other businesses for resale or for their own use, search for the relevant wholesaling code. A wholesaler usually operates from a warehouse or office with little or no display of goods sold and uses trade contacts to market their business. If you sell to both the general public and other businesses, select the retail or wholesale code that best reflects your business.
For example, if you operate: a shop with a large display of stock, search for the relevant retailing code. What if I am involved in more than one activity? If you are self-employed and involved in more than one activity at the same time, choose the BIC code that relates to the predominant activity or contact ACC on Note: for levy purposes ACC may use the code of an activity you undertake that attracts the highest levy rate.
If you are a business with employees and involved in more than one activity at the same time, choose the code that relates to the predominant activity of your business or contact ACC on Some businesses may qualify, for ACC purposes, to have their levies based on multiple classification units if the criteria in the guidelines below are met. Note: self-employed is not eligible for multiple classification units.
If you require more information, contact ACC on The following guidelines explain the multiple classification unit rules. The business must have distinct and independent activities. Each activity must provide a service to an external customer. Providing an internal service is not classified separately.
Any one activity must be able to continue without adaptation if all the others cease to exist. Producing raw materials for, and selling the production from, a manufacturing unit are not separate activities. The accounting records must demonstrate the separate management and operation of each activity. Regularly produced management accounts are more likely to satisfy this condition than annual accounts.
Accounts created retrospectively do not demonstrate the separate management of the activity during the year. Accounts must mirror the organisational structure to demonstrate separate management.
A good practical test is whether the accounting records would establish a value for the activity if it were sold. All income and expense items should be attributed to the activity at source reallocation on a percentage or share basis is usually unsatisfactory.
The accounting records must contain all relevant income and expenses, including overheads. ACC may ask to view accounting or wage records. There must be records showing the earnings of employees separately for each activity.
Separate activities cannot exist if all staff are shared. Separate payroll systems are not required. The wage records may be kept on a central system. If a company is a consolidated group filing an IR4 return, individual PAYE returns must still be filed for each employing company in the group.
Each of those companies must use a classification or classifications based solely on its own activity. The nominated company may not use multiple classifications to describe the activities of the other companies in the consolidated group. Note: If you have passive earnings, you still need to select a BIC code. Retired Search for the code that best describes the activity that has produced the non-PAYE income included in your current tax return, or will produce this income in the future.
For a person no longer working, this may be, for example, shares or property or ongoing income eg commissions from a previous business activity. Ceased, no longer self-employed, unemployed, or an employee Search for the code that describes the activity that has produced the non-PAYE income included in your current tax return, or will produce this income in the future. For a person with no current employment, this may be, for example, financial or property investments or residual income from a ceased business or self employment.
Please search for the relevant activity. If you have ceased trading also contact ACC on to advise the cease date. Student or beneficiary Search for the code that describes the activity that has produced the non-PAYE income included in your current tax return, or will produce this income in the future.
For a student, this may be, for example, part-time or full-time self-employment providing services or making items for sale. It may have been investments or a business activity. Trust Search for the code that describes the activity that has produced or will produce income for the trust including family trusts , or is operated by the trust including family trusts.
This may be provision of services, manufacturing or sale of goods, an artistic or recreational activity, or an investment activity eg rental property. If the only activity of the trust is owning the family home use L Investment - residential property. If this applies to you, search for the code specific to the service provided by you or your business, not one that describes the activity of the employer. Director, chairman or board member If you are a company director, in a directorate or board member position, or an elected representative in other organisations eg trusts, societies, government organisations select the code based on the following principles: Executive directors a person who also holds a management position in the company should search for the code that describes the activity of the company.
Non-executive directors a person providing personal business and management experience and expertise to the company should select M Management services not elsewhere classified, or M Management service to local government and other statutory bodies.
If your only activity is owning the family home use L Investment - residential property. If you need further help, see our contact page for details.
What if I change activity during the tax year? If you changed activity during the tax year, choose the BIC code that relates to the activity you or the business were involved in at year end 31 March.
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