WSIB – Does my Business Need to Register?

Ontario’s Workplace Safety and Insurance Board (WSIB) has been a hot topic of discussion lately in the SheDo Tax office. This is especially due to the fact that our office and business clients are mainly located in the province of Ontario. Many businesses are unsure if they need to register for WSIB. For some businesses, we are finding they aren’t registered, when they should be.

Although WSIB coverage isn’t mandatory for everyone in Ontario, by law, MOST businesses NEED to register with the WSIB within 10 calendar days of hiring their first employee. Most will have to register, but some exemptions apply. The Government of Ontario decides which industries and which types of employees have to have WSIB coverage, and lists them in the Workplace Safety and Insurance Act (WSIA).

The WSIB is funded by premiums received from Ontario businesses and the rate is based on a) the shared risk of all the businesses that do the same type of work in a particular class and b) the individual claims history compared to the rest of the businesses in the same class. This approach ensures that businesses are paying a rate that is reflective of their industry and experience.

The WSIB premiums paid go toward helping people who experienced a workplace illness or injury by providing:
1. Funds to replace lost wages
2. Payment of health care costs
3. A support team of caring professionals who aim to get your employee back to work
4. Benefits to the family or dependents of people who suffered a work-related death

It is important to note that WSIB may take administrative action when non-compliance occurs. Actions that may be taken include, but not limited to: levying administrative non-compliance interest and charges.

Unsure if your business needs to register for WSIB?

The SheDo Squad highly recommends reaching out to WSIB Ontario at 1-800-387-0750 to confirm your registration obligations.

Posted in Uncategorized.