You will need this registration if you or your company employ workers in Victoria. You will need to register for WorkCover insurance if you pay more than $7500 in wages per financial year, or you employ apprentices or trainees. Your registration form must be received within 60 days of the date you first meet these requirements.
The purpose of this compulsory insurance arrangement is to provide your business with insurance coverage for the cost of workers compensation entitlements if any of your workers are injured or become ill because of their work. Entitlements may include replacement of lost income, medical and rehabilitation treatment costs, legal costs or, in the event of a serious injury, lump sum compensation.
Sole-traders or partners to a partnership are not considered to be employees for insurance purposes. However, directors and executive officers of a company who are paid wages are considered to be employees.