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Business Newsletter Issue 3, 2008

Workcover Premiums

Attention Manufacturers/Importers
Many employers could be inadvertently paying too much WorkCover premium due to having an incorrect WorkCover Industry Classification (WIC). For instance, businesses, which had in the past operated a manufacturing process in Victoria, may now have their product manufactured or imported from overseas.

When this happens, the employer should advise their WorkCover agent as it would mean that they should possibly have a WIC of wholesaling rather than manufacturing. This in turn would usually result in a much lower WorkCover rate and hence lower premium.

Employers in this situation are often not telling their WorkCover agents and are possibly entitled to large refunds.

Attention Community Groups
Employers in benevolent type industries (e.g. nursing homes, hospitals, charities, community groups etc.) that have great scope to offer their employees salary sacrifice are including salary sacrificed amounts in their WorkCover certifications resulting in them paying to much premium.

If your organisation is doing this you may be entitled to substantial refunds of premium as well as lower ongoing WorkCover costs.

 The City of Monash will be holding free information sessions on each of the above topics in mid November 2008. In the meantime, if you believe you fall into either of the above categories contact Rex Johnson on 9887 3988 for advice.


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Published: 18 November 2008

[ Up: Business Newsletter - Issue 3, 2008  |   Forward: New Staff At The Monash Business Incubator ]


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