skip to main content

Worksafe Rateable Renumeration

Wednesday, July 1, 2020

WORKSAFE RATEABLE REMUNERATION

Try saying that 10 times quickly!

As employers, we pay our workers compensation based on our estimate of employee remuneration for the year.

At the end of the financial year, Worksafe ask us to lodge a Worksafe Rateable Remuneration declaration which provides the actual remuneration figures for the year. The amount of workers compensation that should have been payable is then calculated on these confirmed amounts.

If your annual remuneration is more than your estimate, you will be invoiced the difference to pay.

If your annual remuneration is less than your estimate, you will receive a credit on your account. You can ask for this to be refunded.

You are meant to update your remuneration estimate with Worksafe if the annual amount is set to increase by 20% or more from your original estimate.

Similarly, you can also reduce your remuneration estimate if you know there will be a significant difference for the year from your original estimate.

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

https://www.worksafe.vic.gov.au/remuneration-inclusions-and-exclusions

We are confident that our books and returns are up to date, delivered on time, and meeting our compliance obligations leaving me time to focus on other important business matters.

- Dick De La Rue, Beveridge Scoria

My accounts were in a mess before we engaged Sheree. Now we are totally organised! Sheree is very efficient and easy to work with. Thanks Sheree!

- Frank Mash, FISA Pty Ltd

The role of bookkeeping has grown to reflect the changing needs of our business, and Swag Bookkeeping is now an integral part of our operations.

- James A Michell, Sentdale Wool

It certainly takes the pressure off me and I feel I can put a lot of trust in to Sheree and what she does for me and my business. What takes her a few
hours would take me days.

- Johanna Clark, Naturopath

We would have no hesitation in recommending Swag Bookkeeping for their friendly manner and professional service.

- John Hall & David Patmore, Ultratune Epping

Swag Bookkeeping have worked alongside Blick for a number of years. Professional, reliable and notably have saved us money and by bringing effective financial process to our business.

- Mark Schiffer, Blick Creative

I reached out to Sheree and she could not do enough to help my friend’s son.

She is an amazing bookkeeper and individual that will make a difference to your business!

- Marina, Letz Create

Sheree has been doing my bookkeeping now for 2 years including my constantly unbalanced trust accounts. Sheree is always on time. Sheree’s professionalism and attention to detail are outstanding.

- Rowan Skinner and Associates Lawyers

We have found that Sheree and her team offer fantastic value for money tailoring a solution to suit our needs. Swag goes above and beyond. If you are a trade-based business their knowledge of the additional government funds such as co-invest is highly regarded and can save you time and benefit your staff.

- Kate Walsh-Rose- Rex Plumbing GM

How can we help you?

Please get in touch with the SWAG team to find out how we can help you, and receive a free 1 hour consultation.

Take our Financial Health Check

Swag Bookkeeping

Swag Bookkeeping

Swag Bookkeeping

swag bookkeeping gold partner certified partner