In Victoria, WorkCover insurance premiums are calculated by WorkSafe Victoria using an employer's total rateable remuneration (payroll) multiplied by their specific industry classification performance rate, adjusted by their individual claims history. Businesses with higher-risk profiles or frequent workplace injuries incur higher adjustment factors, whereas those with safe workplaces pay lower rates. Employers must accurately declare their remuneration annually through digital portals to determine their exact final premium obligation.
1 votes
Marked as accepted