Victorian Businesses – Have you started your 2020/21 EOFY Workers Compensation Remuneration Reviews?

Man using computer

As we approach the end of the financial year, now is the time to review your remuneration estimates previously submitted for the current 2020/21 policy year.

At the end of the financial year employers are required to declare their actual earnings for 2020/21.

If your rateable remuneration has increased by more than 20% on what you estimated at the start of the year, a financial penalty may apply.

Insurance House recommends that employers review their 2020/21 estimated remuneration figure now. If your rateable remuneration has increased by more than 20% from the estimated remuneration, you need to notify WorkSafe and submit the revised estimated remuneration within 28 days of you becoming aware of the increase.

Please contact Insurance House Workers Compensation Team on 1300 30 5834 or email Yon Ta  yon.ta@ihgroup.com.au if you’d like to discuss your Workers Compensation remuneration review.

 

Our advice is general in nature. To read the full General Advice Warning click here.

Back

phone

fax

email ih@ihgroup.com.au

Back to larger map