Get ready to renew your policy from 1 July
Please note: Policy renewal begins on 1 July 2017.
WorkCover Queensland’s accident insurance policies are due for renewal from 1 July. Employers must declare their wages to WorkCover annually to ensure they have the right level of cover when renewing their policy.
We’ve provided some simple steps below to help you prepare for 1 July so you can have peace of mind that your workers and business are covered.
Step 1 – Determine who you need to cover
Step 3 – Get step-by-step help when you declare your wages online from 1 July 2017
What’s new this year?
From 1 July 2017 wages paid to apprentices during the course of their apprenticeship will no longer be included in your premium calculation—resulting in a discounted premium for those who employ apprentices. This discount does not apply to trainees.
While you still need to declare apprentice wages to WorkCover, they will not be included in your premium calculation and your apprentices will continue to receive the same level of cover if they sustain an injury in the course of their employment. Further information on this topic can be found here.
Early payment discount increased to 5%
Employers who pay their premium in full have previously been able to benefit from a 3% discount on their premium. From 1 July, we’re increasing this discount to 5%. To take advantage of the 5% discount this year, you need to declare your wages by 31 August, and pay your premium in full by 16 September. Your premium must be greater than $200 to qualify for the 5% discount.
Step-by-step online wage declaration option
We’ve made declaring wages online even easier this year, with the introduction of our step-by-step declaration option. If you’re unsure about what you need to declare as wages, use the step-by-step option to be guided through the wage declaration process where you will be prompted to include (and exclude) all relevant payments that make up your final wages.
Employers who renew their policy online will be able to get a better understanding of the factors that influence their premium calculation, through our new policy snapshot. By declaring your wages online, you’ll be able to easily see any discounts you may be benefiting from, compare your claims performance to the industry average, and see how changes to key factors (such as wages or industry rate) have influenced your premium.
$200 minimum premium price
Small business owners can continue to benefit from changes we made last year that reduced the minimum premium price from $290 to $200.
Still the lowest average premium rate in Australia
Queensland employers can continue to enjoy the lowest average premium rate in the nation of $1.20 per $100 in wages.
All superannuation contributions made by an employer on behalf of a worker must be included as wages in your declaration.
How to calculate your fringe benefits
Fringe benefits are items paid by an employer on behalf of or for the benefit of employees or their families and include motor vehicles, loan benefits, debt waivers, housing, expense payments, school fees, car parking, payment of health benefits, etc. – the grossed up taxable value of these benefits should be declared as wages from 1 July 2017.
Please refer to the wages definition manual for further details.
Weekly compensation payments / employer excess
The following payments should be excluded from your wages:
- Payments made to injured workers as part of the claims excess period
- Weekly benefit payments (wages) paid to the injured worker that are reimbursed by WorkCover
If you declare your wages online, you can choose to deduct these payments from your wages automatically.
Certificate of currency
You can go online at any time to obtain your certificate of currency.
- Last updated
- 14 June 2017