It’s time to renew your WorkCover accident insurance policy
Your accident insurance policy with WorkCover Queensland—which covers your business for the cost of any work-related injuries to your workers—is due for renewal. You need to declare your wages information to us by 31 August 2018 so we can calculate your premium.
What you need to declare
To ensure you meet your workers’ compensation obligations, it’s important to be aware of who you need to cover, and what payments you need to declare as wages. For example some contractors may need to be covered, and you must include superannuation and fringe benefits as wages.
Declare your wages early to take full advantage of our flexible payment options, including:
- interest free monthly payment plans with deductions occurring on the date of your choice
- a 5% discount* if you pay your premium in full by 16 September.
Some payment options will not be available if you do not declare your wages by 31 August 2018.
*discounted premium price cannot go below $200
From 1 July 2017 wages paid to apprentices during the course of their apprenticeship are excluded from your premium calculation—resulting in a discounted premium for those who choose to employ apprentices. This discount does not apply to trainees.
To claim the apprentice discount, you still need to declare your apprentice wages to WorkCover. Your apprentices will continue to receive the same level of cover if they sustain an injury in the course of their employment.
Wage declaration tips
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.
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.
Did you know?
Early payment discount increased to 5%
Last year we increased the discount for employers who pay their premium in full from 3% 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 discounted premium price cannot go below $200.
Step-by-step online wage declaration option
If you’re unsure about what you need to declare as wages, use our online step-by-step declaration option to be guided through the wage declaration process. 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 policy snapshot page. 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.
Certificate of currency
Your certificate of currency will be attached to your renewal notice that we email to you in early July. If you don't receive electronic communications from us, or you need another copy throughout the year, you can go online at any time to obtain your certificate of currency.
$200 minimum premium price
Small business owners can continue to benefit from recent changes we made that reduced the minimum premium price from $290 to $200.
Maintaining our low average premium rate
Queensland employers can continue to enjoy the benefits of our low average premium rate of $1.20 per $100 in wages.
- Last updated
- 05 July 2018