WorkSafe Victoria
is your Nominal Insurer
WorkCover Insurance is the name of the Workers Compensation Insurance scheme in Victoria, which is provided by WorkSafe Victoria. WorkSafe has delegated the management of the scheme to Agents, such as DXC. All businesses that have deemed workers in VIC and pay over $7,500 per year in actual wages must comply with this compulsory requirement.
What is an Annual Wage Declaration?
Your legal responsibility as a Policy Holder.
One of your obligations as an employer and policy holder is to report how much Rateable Renumeration you have paid to your workers each year, through an Actual Wage Declaration. This is a formal government submission. This step is important because it helps WorkCover adjust a premium that's both fair and accurate for your business, making sure you are paying the appropriate amount of premium based on your actual wages. It's a record keeping requirement that all Policy Holders have to provide. Employers Comp takes this hassle away so you can focus on your business.
What happens if I don’t declare my Wages?
You're in breach of your legal obligations!
As a policy holder, you need to report your wages accurately, yearly and on time. If you have overestimated your wages, you will receive a premium refund. If you have underestimated your wages, you will have to pay the difference. If you don't report your wages, WorkCover will automatically raise your renewal premium until you do and you can face fines and penalties. Not reporting your Actual Wages exposes your business to the risk of government audits, fines and penalties.
Employers Comp has reported wages for thousands of businesses, contact us if you need assistance.
Do I have to include Payments to my contractors?
Yes and No
You may have to include some of the payments you make to your Contractor as declarable wages, if they are considered a worker for workers compensation purposes according to Workcover’s interpretation. This can be hard to understand, so we suggest seeking help from an expert like Employers Comp.
Phoenix Hotel
"I really appreciate the support from Employers Comp, which is really helpful and valuable for a business like ours."
Do I include all my employees?
Yes and No
You have to report the gross wages for Rateable Renumeration that you paid to your workers who are employed by you in the state where your policy applies. For example, if you have employees in Victoria and New South Wales, then you would report wages for the Victoria workers in your annual wages report to your Agent. The employees in New South Wales would report wages to icare in their Actual Wage Declaration report. You will need to have a policy in each state to protect workers of that state. Is it confusing? Employers Comp can help, save you time, save you money and give you peace of mind.
GJN Industries
"The team at Employers Comp have fantastic customer service, nothing is ever too hard."
Adams Mowing
"Employers Comp saved me time and money, it is a must for any business."
What We Do
Employers Comp has assisted thousands of businesses in managing their Workers Compensation Insurance compliance. We assist our clients by providing the following four core services.
Cover Set Up
Actual Wages
Advice
Renewals
How we Help
Employers Comp has assisted thousands of businesses in managing their Workers Compensation Insurance compliance. We assist our clients by providing the following nine core services.
Cover Set Up
We review your specific needs to provide you with tailored, compliant Workers Compensation protection.
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Premium Payments
We help you manage your WIC Codes and payments to ensure you can afford your cover and avoid penalties and fines.
Actual Wage Declarations
We link with your Payroll and Accounting Software to ensure you declare your Actual Wages correctly and compliantly on time.
Contractors Compliance
Not all contractors are your deemed workers. But some are and they need to be included in your policy. We take the headache away.
Renewals
Unlimited support to manage your Renewal. This includes our Representation Guarantee, supporting you through the renewal audit process.
Registrations
Registering a new company, policy or claim we provide you with ongoing advice to save you time and provide you with peace of mind.
Documents
Have access to your documents 24/7. No matter where you are you have access to your policy documents on the go.
Wage Audits
Thousands of employers every year are audited by their Workers Compensation regulator. We represent you in the process.
Advice
Our team of experts provides you with the Unlimited Advice and guidance to help you navigate the complex world of Workers Compensation.
Compliance made easy for your business.
No matter your industry, we've got the perfect plan to suit your needs.
Handz Constructions
"I am very happy with the team at Employers Comp, they are extremely prompt and supportive"
