Answer the following to assist you in ensuring you:
Timely, accurate and complete reporting and payment of your business’ insurable earnings keep your business in good standing with the WSIB and prevent any late reporting or late payment penalties and interest.
The Workplace Safety and Insurance Act, 1997 (WSIA) outlines your responsibilities to provide us with:
You must accurately report your insurable earnings information and make the required payment by the due date. You can do so by logging into our online services.
Reporting frequencies are based on your annual insurable earnings. Businesses that report monthly also complete a reconciliation for the previous year each March.
Insurable earnings (even if they are zero) not reported by the due date will result in an administrative penalty.
Insurable earnings not reported by the due date will result in an administrative penalty, you must report zero if you have no insurable earnings .
Under our new premium rate-setting model, businesses are classified using the North American Industry Classifications System (NAICS), based on your business activities.
Each business activity may be assigned to a NAICS code if your business maintains accurate payroll records. See our Employer Classification Manual for more information.
Some functions, like administration, are considered ancillary because they support the main business, so they are not separately classified and the insurable earnings from your ancillary services must be prorated and reported under all supported business activities.
Businesses classified in one or more six-digit classification codes are generally assigned a single premium rate based on their predominant business activity. See details about our premium rate-setting model.
Your premium = insurable earnings x premium rate ÷ 100
To calculate your premium, you would start by determining the gross earnings for each person you are responsible for insuring during the reporting period. See details on understanding and calculating your premiums, including the types of earnings to include and exclude.
If you work in the construction industry, see specific information on how to calculate your premiums based on your type of business.
If your business hires the services of contractors, it is your responsibility to ensure that you protect your business from potential contractor liability by making sure that each contractor you hire has a clearance certificate.
Clearances are mandatory if the contractor you hire is performing construction work, and must be in place before any construction work begins. You must retain these clearance certificates for a minimum of three years.
If you hire someone under contract (not performing construction work), and they are not registered with us, you will need to confirm their status as either an independent operator or a worker for reporting purposes.
