I often quote approx. Workers Comp Rates to clients and use approx. rates in my planning calculations and it got me thinking – what is the REAL rate? Is there somewhere I can find what the rate should be? … and is there somewhere where I might be able to see different rates applying to slightly different activities and perhaps I can “reclassify†myself and save some workers comp?
I didn’t know, perhaps you already do, but apparently WorkCover NSW issues an Insurance Premiums Order each year in respect of allowable premium charges for various industries.
The link for 2013/2014 premium rates for use after 30 June 2013 is here
If you are at the website link above, the 3rd PDF download Table A, is a good summary and also includes the small supplementary rates i.e. dust levy etc. The next download has a bit more detail about what types of business would come under that description / code.
As a snapshot for you, with all extra levies, at the very top end we have:
Concrete Construction Services                              13.50%
Cleaning Services (NSW Govt Schools) Â Â Â Â Â Â Â Â Â 12.85%
Logging, Sawmill                             12.81%
Bricklaying                                  12.06%
In the middle:
Road Freight Long Dist. Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 7.62%
Vegetable Growing                           6.19%
House Construction                          5.41%
Non-Res Construction                        4.10%
And towards the bottom:
Furniture Retail                             3.20%
Hairdressing                                1.51%
Bus Admin Services                          0.61%
And interestingly:
Driving schools                                                        1.24%
Tattoo services                             1.22%
Adult Personal Services                     2.43%
… So they say a hairdresser is more likely to be injured at work than a tattoo artist? … or a bricklayer is 5 times more likely to be injured at work than someone working in the adult services industry?
Save the link above or a link to this blog as I’m sure it will come in handy at some point.
