Proposed legislation would see businesses save on WSIB premiums

 

A bill being tabled in the provincial legislature would see Workplace Safety and Insurance Board premiums reduced for Ontario businesses.

The proposal would see rates cut by $168 Million.

The bill would also see a significant portion of the WSIB’s current reserve be distributed to so-called safe employers in order to allow them to cope with the impacts of COVID-19.

The Ontario government is also proposing to enable the WSIB to work with the Canada Revenue Agency to streamline remittances for businesses.

They say the proposed changes would reduce administrative costs and burdens by giving businesses an efficient one-stop-shop for submitting payroll deductions.