Wage definition and premium calculations

 

Guideline on the definition of wages 

For the purpose of calculating workers compensation premiums 

This guideline has been developed to assist parties who are involved in applying section 96A of the Act.

The objectives of this guideline are:

  1. To provide a comprehensive guideline on wages components for licensed insurers, self-insurers (for their notional premium calculations), auditors, accountants, brokers, employers and other interested parties.
  2. To provide a consistent basis of premium assessment.
  3. To provide a framework for review of contentious issues

Basic rate and basic salary indexation table

 Table showing basic rate and salary indexation that come into effect from1 January each year.