NEW South Wales legislation introducing a number of changes to workers compensation aimed at cutting red tape for employers, passed on 15 May 2008, will come into effect in late June.
Under the amendments, from 4pm on 30 June 2008, only employers with annual wages greater than $7,500 will be required to take out workers compensation insurance or where an employer engages an apprentice/trainee or is a member of a Group for workers compensation purposes.
Another change, is the simplification of workers compensation record keeping requirements, with a reduction of the period that wages records must be kept, from seven to five years.
This change takes effect from 20 May 2008 and aligns New South Wales' workers compensation requirements with those of Victoria and the Australian Taxation Office for business records.
Key contact:
WorkCover NSW
www.workcover.nsw.gov.au
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