26 May, 2021
Queensland workers comp premiums remain lowest
QUEENSLAND businesses will continue to pay the lowest average workers’ compensation premiums in any state or territory, with average premiums remaining unchanged next year.
Industrial Relations Minister Grace Grace told Parliament yesterday that the average WorkCover premium would be maintained at $1.20 per $100 of wages paid for 2021-2022.
“We have not raised the average premium rate since we came to office in 2015, while continuing to improve benefits for sick and injured workers. WorkCover will also maintain the 5 per cent discount for early payment, as well as the apprentice incentive, where apprentice wages are excluded from premium calculations," Ms Grace said.
“These actions taken by the Government have saved Queensland businesses $314 million since they were introduced in 2017.
“As the government implements Queensland’s plan for economic recovery, WorkCover continues to provide important stability and certainty for business.”
Ms Grace said sound financial management and investment decisions in recent years had made Queensland’s workers’ compensation scheme one of the country’s most efficient.
“And we have been able to achieve this while continuing to build on benefits for sick and injured workers, including
- reinstating common law rights for all injured workers following cuts made by the previous LNP Government
- leading the nation in providing benefits for workers suffering from silicosis and coal workers’ pneumoconiosis
- improvements to support workers with psychological injuries
- earlier this month providing quicker and easier access to workers’ compensation for first responders with post-traumatic stress disorder,” she said.