WSIB. Who needs it?

By Victoria E. Turnbull

WSIB

Workplace insurance coverage. Who needs it? Who doesn’t?

Most businesses in Ontario must register with WSIB within 10 days of hiring their first employee. WSIB provides workplace insurance coverage for all of your workers. There are few industries that do not need to register such as banks, insurance companies, computer software developers, private health care practices, trade unions, private day cares, travel agencies, clubs, photographers, hair salons, shoe shine stands, funeral directing and embalming, and taxidermists. The list is fairly short. Even if you are not required to register with WSIB, you can still choose to insure your workers.

Not Sure Where to Start With Your WSIB? No Problem, We Can Help!

Mandatory coverage applies to almost everyone in the construction industry. In regards to Corporations, there is an exemption available for one of the executive officers that does not do any construction work. If there is a second executive officer that does not do any construction work, this person is not exempt from WSIB, but can apply for a lower premium. The exemption is not given automatically, you have to apply for it by filling out form 1208WA.

Q. I am a sole proprietor in the construction industry & I do not employ any workers. Do I have to register with WSIB?

Yes. As of January 1^st, 2013, WSIB deemed you as a worker and an employer. An exemption applies when doing strictly home renovations. If you are always hired and paid by an occupant of the home, you are exempt.

Note: Exemption does not mean you are eligible to receive coverage benefits. It simply means that you are not required to register for WSIB

Q. What does it mean to be covered by WSIB?

If you are an employee or a subcontractor and are covered by WSIB, they will support you throughout your recovery by providing up to 85% of your earnings (starting the day after your injury), coverage of health care costs, Loss of retirement income benefit, and they will also help re-train you if necessary.

If you have any questions regarding WSIB, please feel free to contact me personally at 289-389-2694 or you can email me at victoria@myhamiltonaccountant.com and I would be happy to help you!

DISCLAIMER:

THIS ARTICLE deals with a number of complex issues in a concise manner; it is recommended that accounting, legal or other
appropriate professional advice should be sought before acting upon any of the information contained therein.

Although every reasonable effort has been made to ensure the accuracy of the information contained in this letter, no individual or
organization involved in either the preparation or distribution of this letter accepts any contractual, tortious, or any other form of
liability for its contents or for any consequences arising from its use.