There are changes afoot with Workers Compensation Insurers.
From 1 January 2018, Employers Mutual Limited (EML) will be the sole scheme agent. Allianz and GIO will continue as transitional agents to manage their existing clients until 31 December 2018.
However, if you are currently insured with CGU or QBE, your new agent will be EML from the 1st January.
A couple of suggestions if your policy is changing:
- Ensure your policy period runs from 1 July to 30 June – this makes it easy to tie back to payroll
- Have your Accountant at HQB Chartered Accountants review your annual declaration to ensure all wage components, including superannuation, director payment s and contractor payments are included where required.
-Ian Hogbin
Posted 12.5.17
This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.
