How remuneration works

Understand how your remuneration is calculated, what's included and what's exempted.


What is remuneration?

Remuneration includes wages, salaries, superannuation, and other benefits such as cash and non-cash payments you pay your workers before tax. Certain types of remuneration are included in the calculation of your insurance premium. This is known as your rateable remuneration.

How remuneration affects your premium

If your annual rateable remuneration is $200,000 or less, we calculate your premium using remuneration and the standard rate for your industry.

If your annual rateable remuneration is over $200,000, we calculate your premium by taking into account how many WorkCover claims have been lodged against your business. If you perform better than your industry’s average, your premium will be lower. If you perform worse, it’ll be higher.

Managing and updating your rateable remuneration

At the start of every financial year (FY), we estimate your rateable remuneration and use it to help calculate your WorkCover premium. If this estimate is more than your expected rateable remuneration, you can update it at any time by logging in to your Online Employer Services account. If this estimate is less than your expected rateable remuneration by 20% or more, you must update it as soon as possible. We’ll recalculate your premium and you can pay it on the spot.

At the end of the year, you'll need to let your WorkSafe agent know what your actual annual rateable remuneration was (this is known as declaring or certifying your remuneration) by the due date on your notice. If you don't, you may be required to pay a penalty. You can declare your rateable remuneration by logging in to your Online Employer Services account and completing the 'Declaration of rateable remuneration' form.

Benefits of managing your rateable remuneration

Managing your rateable remuneration helps you:

  • stay in control of your premium repayments
  • get more accurate and consistent premium repayments
  • avoid any surprises or penalties

Your premium payments for WorkCover insurance also help us reach our goal of making Victoria one of the safest places in the world to work.

What's included in rateable remuneration

Use this information to estimate and declare your rateable remuneration. This applies to Victorian workers only.

Worker's standard earnings

Worker's leave

Accident/injury payments

Allowances and reimbursements

Non-ordinary payments

Other payments

Payments to special types of workers

Other fees

Further help and resources

For more information and assistance contact your WorkSafe agent or the WorkSafe Advisory service.

WorkSafe Advisory Service

WorkSafe's advisory service is available between 7:30am and 6:30pm Monday to Friday. If you need more support, you can also contact WorkSafe using the Translating and Interpreting Service (TIS National) or the National Relay Service.

1800 136 089 More contact options

If you need to update your remuneration, log in to your Online Employer Service insurance account. You can then recalculate your premium and pay it on the spot.

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