Ontario Providing Financial Relief to Employers
Ontario’s Workplace Safety and Insurance Board (WSIB) is cutting premium rates in 2022 by $168 million, bringing the total reduction in premiums since 2018 to $2.4 billion. In addition, the government is intending to introduce legislation that, if passed, would allow for a significant portion of the WSIB’s current reserve, currently valued at $6.1 billion, to be distributed to safe employers. This proposed change would help employers cope with the impacts of COVID-19.
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