Do I need to have a policy if I employ an Apprentice?
‘YES’, you are still required to submit the Declaration of Actual Wages Paid for the current period, plus the Estimate of Wages for the following year to the insurer. However, the premium you will pay on the policy is $175 and this amount applies to a business who has no other employees.
The premium will be calculated as normal for the remaining employees who aren’t classified as Apprentices.
Is a Company required to have a policy which doesn’t pay any wages?
‘NO’, WorkCover NSW has made changes and a company is no longer required to have a policy. In the past you were required to have one, irrespective of if you had employees or not. But, as long as you remain below $7,500 in annual wages, you will not be required to have a policy.
CLAIMS
What should I do in the event that an employee is injured?
Contact your Worker’s Compensation insurer ASAP and within 5 calendar days for non-serious injuries to avoid paying an excess equivalent to the employees gross weekly wage
.
Will the claim impact on the premium that I pay?
A claim will have an impact on the premium you pay for the next 3 years if;
1. The business has a wage roll of $300,000 or more; and
2. The premium you pay is $10,000 or more.
WORKER’S COMPENSATION PREMIUM – INSTALMENT PAYMENTS
Premiums can be paid by instalments, based on the scale below.
$1,000 to $4,999 – Quarterly instalments apply, or you can pay lump sum;
$5,000 and over – Option of either quarterly, monthly instalments(1) or lump sum;
$175 to $999 – Instalments not applicable and payment is due in lump sum
(1) You will need to make the deposit payment before the DUE DATE to signify to the insurer which payment instalment option you have selected. That is, if monthly option is selected, then the insurer needs to receive the instalment before that due date, otherwise you may have to pay by quarterly instalments.
IMPORTANT NOTE ON INSTALMENT PAYMENT(S) DUE DATE
All instalment payments need to be received by the DUE DATE, otherwise the whole/remaining premium will fall due.
Should you have a valid reason for missing an instalment payment, you should contact your insurer first, who will then refer you to WorkCover.
DIRECT DEBIT FACILITY
If your insurer offers this payment facility, you will every year need to make the first Instalment payment to let your insurer know which payment option you have elected to pay by and this needs to be done before the DUE DATE. The subsequent payments will then be deducted from your nominated bank account.
NEW WORKER’S COMPENSATION PREMIUM RATE SCALE
WorkCover NSW review the Premium Scale at the end of June each year. This will be automatically adjusted to policies renewed on and after 30 June 2009.
Should you require further on any of the issues raised in this section, please contact MTA on (02) 9213 4247.
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