The cost of workers' compensation insurance in Victoria varies for every individual business because it is calculated using total payroll volume, industry risk classifications, and individual claims performance history. While the overall average scheme rate across all participating Victorian industries is benchmarked at 1.80% of total rateable remuneration, low-risk businesses with excellent safety records pay significantly less, whereas high-risk industries or businesses with frequent claims pay higher risk-adjusted rates. Employers can also secure early payment discounts if they clear their annual balance by designated deadlines.
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