How are incentive payments calculated?

The total annual WorkSafeBC incentive will be calculated as a percentage of the base assessment rate from the previous year, multiplied by the organization’s total assessable payroll reported from the previous year.

CALCULATION:  Assessable Payroll ÷ 100 X Base Rate X 10% = Refund

EXAMPLE:          $60,000,000 ÷ 100 X $1.68 X $10% = $100,800 annual refund

This entry was posted in FAQ's. Bookmark the permalink.

Comments are closed.