What does WSIB Financial Relief Package mean for my business?
The financial relief package allows Ontario businesses to defer premium reporting and payments until August 31, 2020. Businesses who report and pay monthly, quarterly or annually based on their insurable earnings are eligible for this deferral.
Each payer of WSIB premiums reports and pays on the previous full month or quarter, for example March 31 reporting and payment obligation covers the period of February 1-29. The following payments are eligible for deferral:
- Monthly: March 31, April 30, May 31, June 30, July 31, Aug 31
- Quarterly: April 30, July 31
- Annual: April 30
How does a business owner or operator apply for the relief package?
All businesses covered by the WSIB’s workplace insurance are automatically eligible for the financial package. No action is required from businesses to receive the financial relief.
Does a business have to participate in the financial relief package?
No. A business does not have to participate in the financial relief package. A business may continue to report and pay on a monthly, quarterly or annual basis.
Businesses can also report now and defer payment until later.
Payment can be made online through:
- your online banking or financial institution
- credit or debit using Paymentus