The calculation of the Workers Compensation premium for a Business employing workers is based on a variety of factors, including:

• The Employer’s industry;
• Working Conditions;
• The amount of deemed wages paid to the workers;
• The registration to specific Apprentices and Traineeship Government Programs.

To ensure their workers are covered by WorkCover insurance and calculate the correct premium, Employers must provide information regarding the following:

Employer's Industry
Businesses must provide a full description of their business activities to WorkSafe VIC to establish the correct industry type. Once assessed, WorkSafe VIC will assign the business a Workers Compensation Industry Classification (WIC) to enable the correct calculation of the premium. 

Workers' Remuneration
Employers must submit an Annual Annual Declaration to WorkSafe VIC and declare the cost of remuneration paid to their workers over the year and an estimate of wages for the following year.

Definition of Workers and Wages

The VIC Workers Compensation Act has a specific definition of both Workers and Wages that must be included in the Annual Declaration to determine the correct premium. For more information about the definition of workers and wages refer to our Workers Compensation Factsheet.

Lodge the Annual Declaration to WorkSafe VIC

The Annual Declaration is lodged to WorkSafe VIC (Exchanging) online. 

1. After you have calculated the correct wages and remuneration to report log into WorkSafe: https://www4.worksafe.vic.gov.au/iam/login.do
   Note: Xchanging WorkSafe Victoria is only supported through Internet Explorer
   
   è  The WorkSafe portal 
   
   
   
2. Log in with your username and password
   
   è  The WorkSafe - Xchanging portal
   
   
   
   
3. Click on Remuneration > Update my Remuneration
   
   è  The Update My Remuneration page opens
   
   
   
   
4. Click on [Begin submission > ]
   
   è  The Certify Remuneration page opens
   
   
   
   
5. Enter the following details:
   • Actual wages for the year:
     • Salaries and wages (All reportable Gross Wages, less Superannuation)
     • Payments to Contractors
     • Fringe Benefits
     • Superannuation Contributions
   • Total number of Full-Time and Part-Time/Casual Employees employed during the relevant Financial Year
     Note: make sure you type 0 into all the fields that don't apply to your Organisation.
6. Click on [Continue]
   
   è  The Estimated Remuneration page opens
   
   
   
   
7. Type the Estimated wages for the following year and whether or not you are planning to hire any apprentices/trainees
8. Click on [Continue]
   
   è  The Declaration page opens
   
   
   
   
9. Review your declared wages, if correct, select the Declaration Authority and click on [Continue]
   
   è  The Confirmation page opens
   
   
   
   
10. Click on View/print submission (.pdf) and save the WorkCover submission for your record
11. Click on [Finish] and return to the Home Page
    
    è  The Workers Compensation Tax invoice will be emailed to you within a few working days
    
    
12. From the Xchanging Home page click on Obtain my certificate of currency
    
    è  The Certificate of Currency page opens
    
    
    
13. Click on [View/Print] or [Email] and download or email the certificate of currency
14. Return to the home page and go to Calculate my premium
    
    è  The Calculate my Premium page opens
    
    
    
15. Select the correct financial year and then click on [Calculate now]
    
    è  The Calculation Results page opens
    
    
    
    
16. Click on [View/Print PDF] and download the Premium Estimation document