The Crucial Link Between Reporting Payroll Information and WCB Premiums
The Crucial Link Between Reporting Payroll Information and WCB Premiums When it comes to running a business, one of the most critical tasks is reporting payroll information accurately and on time. Workers’ compensation boards across Canada require employers to report their payroll information annually. The information is used to calculate their WCB premiums. Here’s why it’s important and how it can impact your WCB premiums. WCB Compliance: First and foremost, reporting payroll information is a WCB obligation. Failing to do so or failing to report payroll information accurately can result in penalties, fines, and WCB premium reassessments for your organization. Fair Premium Assessment: WCB premiums are calculated based on your reported payroll information. Accurate reporting ensures that you pay the right amount of premiums. Underreporting payroll can lead to lower premiums, but situations like a workplace accident could trigger an audit that may result in reassessment and financial penalties. On […]
After the Alberta Wildfires: Rebuilding Fort McMurray Safely
Image: mikeledray / Shutterstock.com Although the immediate crisis may have passed in Fort McMurray and the surrounding area, the state of emergency is far from over. There is a tremendous amount of work to be done in order to get the 80,000 evacuees safely back to their own homes or resettled into new ones, and there is a great deal of pressure to get this done as quickly as possible. The path to rebuilding these communities will be long and involved. While still monitoring hot spots and further potential wildfires, there is a vast amount of demolition, cleanup, environmental testing and repairs that will need to be done before the rebuilding can truly begin. Infrastructures such as roadways, water, sewage, gas and power systems need to be repaired or restarted. Waste management facilities need to be ready to deal with the garbage, from food left in refrigerators and freezers with […]