As part of the Queensland Government’s attempts to drive jobs for younger workers and training in skilled work, WorkCover Queensland is offering employers of apprentices a discount on their insurance premiums.
Starting 1 July 2017, employers who employ at least one apprentice can save on their insurance premiums by declaring how much they expect to spend on apprentice wages in the financial year. WorkCover Queensland will then not include those apprentice wages when calculating the employer’s premium.
For example, if your anticipated wage bill for the 2017/18 financial year is $100,000, your insurance premium is calculated with reference to that figure. If however that figure includes an apprentice whose wages cost you $30,000, your insurance premium will be calculated on a wage bill of $70,000.
This also means that if you choose to employ an apprentice further down the line, your insurance premiums will not increase.
As wages are a major factor in determining the insurance premium, removing apprentice wages from the calculation can result in substantial savings, especially for major employers of apprentices.
To claim the discount, employers will need to renew their policies online or over the phone. During this process you will be prompted to declare how much you expect to spend on apprentice wages in the 2017/18 financial so that these can be deducted from premium calculation.
The discount will only apply to apprentices that you employ directly; apprentices employed through a group training organisation will not qualify you for the discount.
WorkCover Queensland has more information on their website at www.worksafe.qld.gov.au.