New WHSCC payment plan reduces costs for restaurateurs

(Jan. 30/12) After years of being lobbied by CRFA and other business organizations, the Workplace Health, Safety & Compensation Commission of Newfoundland and Labrador (WHSCC) has introduced an enhanced deferred payment plan which allows all employers to spread worker compensation assessment premium payments throughout the year, interest-free. 

The plan details
All eligible employers will be able to spread equal payments more conveniently over the calendar year, within the following framework:

This new payment plan addresses most of the issues CRFA raised for the collection of assessment premiums. While the new plan will not be based on actual payroll costs as in many provinces, operators will still be required to forecast annual payroll costs.