Please find below information and key dates that are applicable to workers compensation premiums (Victoria) for the 2023/2024 period.
Claims Statement available online – 10 May 2022
If employers reported claims between 1 January 2020 to 31 December 2022, they can access a WorkCover Insurance Claims Statement using Worksafe’s Online Employer Services from 10 May 2023. This statement is only provided once a year and is used to calculate premium for the 2023-2024 year.
Certificate of Currency
Certificates for 2023-24 are available from 16 May 2023.
Buying out your excess
Employers have until 1 August 2023 to take up the excess buy-out option.
Updating your premium
Employers can review or update their Estimate of Rateable Remuneration for 2022–23 (from 1 April 2023) and can also pay their premium online based on their updated remuneration using WorkSafe’s Online Employer Services.
Submissions received before 30 June 2023 will be reflected in renewal notifications.
Premium Renewal Notices
Employers can access their 2023–24 Premium Renewal notifications online using WorkSafe’s Online Employer Services from 8 July 2023.
Industry Rates and Claims Cost Rates will be published on 26th May 2023
2023–24 Premium due dates
· 5% discount due date – 14 August 2023
· 3% discount due date – 1 October 2023
· First premium instalment (for monthly or quarterly plans) – 1 October 2023
Dates for certifying your 2022-23 remuneration
The due date for certifying remuneration is stated in an employer’s renewal pack.
· 28 October 2023 (for large employers)
· 24 March 2024 (for small employers)
Other key dates and parameters for WorkSafe insurance premiums in the 2023-24 Premiums Order
· Claims Reporting Period – 1 January 2020 to 31 December 2022
· Remuneration Experience Period – 1 July 2019 – 30 June 2022
· Minimum premium – $330.00 ($363.00 including GST)
· Maximum claims cost for an individual claim – $450,500
Contact Jayrose Group Australia today on 1300 785 244 if you require further information on the above or general workers compensation support.
