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WORKERS' COMPENSATION AND REHABILITATION REGULATION 2014 - REG 11
Additional premium for late payment of premium—Act, ss 61 and 62
11 Additional premium for late payment of premium—Act, ss 61 and 62
(1) This section applies if, on or before the due date, an employer does not
pay— (a) the amount of premium payable under a premium notice; or
(b) the
amount by which a final assessment of premium by an industrial magistrate or
the Industrial Court is more than the amount of premium paid under section 551
(4) of the Act .
(2) However, this section does not apply if— (a) the
employer employs only household workers; or
(b) WorkCover has accepted
payment of the amount under an instalment plan and instalments are paid under
the plan.
(3) For sections 61 and 62 of the Act , the additional premium
payable is— (a) if the amount is paid to WorkCover within 30 days after the
due date—5% of the amount; or
(b) if the amount is paid to WorkCover after
30 days but within 60 days after the due date—10% of the amount; or
(c) if
the amount is paid to WorkCover after 60 days after the due date or if no
payment is made—10% of the amount plus interest at the annual rate mentioned
in section 10 (2) (a) for the period from the due date, or a later date
decided by WorkCover, until the amount and all additional premium is paid to
WorkCover.
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