Mandatory Coverage for Directors of a Corporation

Recently the WCB approved a policy called “Coverage – Directors” (Policy 14-2014). This is a new policy that provides mandatory coverage for all directors carried on payroll. Under the new policy, a director who is reporting employment income on a Canada Revenue Agency T4 income tax slip is considered a worker and is required to have WCB coverage. This change is effective January 1, 2015. Any changes to coverage for directors can be made on the annual Employer’s Payroll Statement (EPS). All EPS Forms are due February 28! The policy becomes effective on November 1st for new businesses that register [...]

2017-05-08T11:33:53+00:00 Oct 22, 2014|Comments Off on Mandatory Coverage for Directors of a Corporation

Improved Safety Performance in Saskatchewan Positively Impacts 2015 Premium Rate

The Saskatchewan Workers’ Compensation Board (WCB) today proposed a 3.3 per cent drop to its 2014 average premium rate, from $1.51 to $1.46 per hundred dollars of payroll. The announcement was made today in Regina at a WCB Rate Setting consultation meeting with Saskatchewan business and labour leaders. The rate reduction is the eighth straight drop to the average premium rate and the lowest rate proposal since 1986. Saskatchewan’s preliminary 2015 average employer premium is 28.8 per cent below the twelve year high of $2.05 in 2004. The 2015 rate proposal means that Saskatchewan could have the fourth lowest average [...]

2017-05-08T11:33:53+00:00 Oct 19, 2014|Comments Off on Improved Safety Performance in Saskatchewan Positively Impacts 2015 Premium Rate