On 1 April 2009, several government agencies that interact with New Zealand businesses adopted the revised Australian and New Zealand Standard Industrial Classification 2006 (ANZSIC06).
ANZSIC06 is a contemporary classification which is used to provide meaningful insight into economic activity within New Zealand, as well as ensuring international comparability of industry statistics. It replaces the earlier ANZSIC 1996 New Zealand-use version.
Statistics NZ has been assisting the Companies Office, Inland Revenue and the Accident Compensation Corporation (ACC) with the introduction of ANZSIC06 into their business systems and processes.
The Companies Office is facilitating the collection of the classification information on its website. A business can apply for an IRD number and register for GST (which includes providing a business activity description) at the same time it registers as a company.
The information will then be sent to Inland Revenue for forwarding to ACC and Statistics NZ. The coordinated collection of this information by the Companies Office helps to reduce compliance costs to business.
Statistics NZ uses administrative data sourced from Inland Revenue and the Companies Office in the production of official statistics. Up-to-date industry information improves the quality of Statistics NZ’s industry-based statistics.
Inland Revenue uses industry data in revenue forecasting and data supplied to the Treasury. The new industry information will also assist Inland Revenue to better understand its customer base and better target industry partnership activities.
The revised classification, which groups businesses according to their productive activities, will enable more equitable setting of ACC levy rates.
For more information visit the ANZSIC06 webpage or contact: anne.mcallister@stats.govt.nz.