The Palaszczuk Government is driving down the cost of doing business for employers through WorkCover Queensland’s premium and benefits package.
Employment and Industrial Relations Minister Grace Grace said the package would deliver annual cost savings to Queensland businesses of up to $57.8 million.
“This package will significantly reduce the cost of WorkCover premiums to Queensland employers, particularly those who hire apprentices,” she said.
“The Government wants to encourage employers to hire apprentices and that’s why we’re covering the WorkCover premiums for apprentices.
“Businesses won’t pay a cent in WorkCover premiums on the apprentices they hire.
“This measure has the potential to save employers with between five and 20 workers up to $5,800 a year.”
Ms Grace said Queensland employers would also continue to benefit from the lowest average premium rates in the country at $1.20.
“The WorkCover benefits package will also increase the early payment discount available to employers from 3 per cent to 5 per cent,” she said.
“This means an employer who pays the average premium rate of $1.20 and who takes advantage of the early payment discount would pay the equivalent of $1.14 per $100 of wages.
“For small businesses with between five and 20 workers, this discount could deliver cost savings of more than $1,000 a year.
“What better way to complement the Palaszczuk Government’s 50 per cent payroll tax rebate for employing apprentices or trainees.
“These are great incentives to hire and I’d encourage Queensland to take advantage of them and the cost savings they deliver.”