Contributions by self-insurers until 31 December 2024
14 Contributions by self-insurers until 31 December 2024
Until 31 December 2024, the amount of contributions payable by a self-insurer into the WorkCover Authority Fund under section 388 of the Workplace Injury Rehabilitation and Compensation Act 2013 must be determined by the Authority in accordance with the following formula—
where—
A is the sum of the costs incurred during the preceding quarter that are referred to in section 513(5)(c) and (g) of the Workplace Injury Rehabilitation and Compensation Act 2013 and the costs incurred by the Authority during the preceding quarter in the administration of Division 2 of Part 6 of that Act;
B is the relevant remuneration, calculated as if the self-insurer were an employer liable to pay premiums under the Workplace Injury Rehabilitation and Compensation Act 2013, that was paid or payable by the self-insurer during the preceding financial year;
C is the sum of the total relevant remuneration paid or payable by all employers liable to pay premiums under the Workplace Injury Rehabilitation and Compensation Act 2013 and the total relevant remuneration calculated in accordance with B for all self‑insurers during the preceding financial year;
D is the sum of—
the costs incurred during the preceding quarter that are referred to in the following—
section 513(5)(c) of the Workplace Injury Rehabilitation and Compensation Act 2013;
section 513(5)(d) of the Workplace Injury Rehabilitation and Compensation Act 2013, other than costs—
directly related to the administration, operation, management and maintenance of the Authority's central computer network that is used by authorised agents; or
related to compliance audits for the collection and recovery of premiums payable under the Workplace Injury Rehabilitation and Compensation Act 2013; or
related to actuarial services provided to the Authority that are not actuarial services provided for the purposes of section 403 of the Workplace Injury Rehabilitation and Compensation Act 2013;
section 513(5)(f) of the Workplace Injury Rehabilitation and Compensation Act 2013;
section 513(5)(g) of the Workplace Injury Rehabilitation and Compensation Act 2013;
section 513(5)(l) of the Workplace Injury Rehabilitation and Compensation Act 2013; and
the costs incurred by the Authority during the preceding quarter in the administration of Division 2 of Part 6 of the Workplace Injury Rehabilitation and Compensation Act 2013; and
the costs incurred by the Authority in meeting any liability incurred under section 403 of the Workplace Injury Rehabilitation and Compensation Act 2013.
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