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:
- 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.
- To provide a consistent basis of premium assessment.
- 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.