Industry rates and key dates

Premiums Order 2024–25

The methods for calculating employer WorkCover premiums for the 2024–25 year are set out in the Workplace Injury Rehabilitation and Compensation Act 2013 Premiums Order (No. 32) which is published in the Victoria Government Gazette Periodical No. P1 Wednesday 29 May 2024.

Industry rates for 2024–25

Industry Rates for the 2024–25 premium year are set out in Special Gazette No. S 297 which is published in the Victoria Government Gazette on Wednesday 5 June 2024

Average premium rate for 2024–25

The average premium rate for 2024–25 is 1.8% of the state's rateable remuneration.

Key dates for 2024–25

Claims Statement available online – 4 May 2024

If employers reported claims between 1 January 2021 to 31 December 2023, they can access a WorkCover Insurance Claims Statement using Worksafe's Online Employer Services from 4 May 2024. This statement is only provided once a year and is used to calculate premium for the 2024–25 year.

Certificate of Currency

These are available now for the current and next financial year. To have a Certificate of Currency sent to you each year sign up for email delivery via WorkSafe's Online Employer Services.

Buying out your excess

Employers have until 1 August 2024 to take up the excess buy-out option.

Updating your premium

Employers can review or update their Estimate of Rateable Remuneration for 2024–25 from now and can also pay their premium online based on their updated remuneration using WorkSafe's Online Employer Services.

Submissions received before 30 June 2024 will be reflected in renewal notifications.

Premium Renewal Notices

Employers can access their 2024–25 Premium Renewal notifications online using WorkSafe's Online Employer Services from 11 July 2024.

2024–25 Premium due dates

• 5% discount due date – 19 August 2024
• 3% discount due date – 1 October 2024
• First premium instalment (for monthly or quarterly plans) – 1 October 2024
  • Quarterly due dates: 1 October 2024, 1 December 2024, 1 March 2025 and 1 June 2025
  • Monthly due dates: 1st of every month commencing on 1 October 2024
• Annual premium due date (without discount) – 1 November 2024

Dates for certifying your 2023–24 remuneration

The due date for certifying remuneration is stated in an employer's renewal pack.

• 25 October 2024 (for large employers)
• 21 March 2025 (for small employers)

Other key dates

Other key dates and parameters for WorkSafe insurance premiums in the 2024-25 Premiums Order:

• Claims Reporting Period - 1 January 2021 to 31 December 2023
• Remuneration Experience Period - 1 July 2020 – 30 June 2023
• Minimum premium - $360 (plus GST)
• Maximum claims cost for an individual claim - $479,000
• Maximum legal costs for an individual claim - $89,600
• Maximum recovery - for an individual claim allocated to an employers' performance calculation - $479,000