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At the WSIB, we understand the impact the evolving COVID-19 situation is having on businesses across Ontario. We have announced a financial relief package worth up to $1.9 billion to help support you through this difficult time while protecting coverage for people with work related injuries or illness.
How the financial relief package works
The financial relief package allows businesses to defer premium reporting and payments until August 31, 2020. Businesses who report and pay monthly, quarterly or annually based on their insurable earnings are eligible for this deferral.
No interest will accrue on outstanding premium payments and no penalties will be charged during this six-month deferral period.
Receiving financial relief
All Ontario businesses covered by our workplace insurance are automatically eligible to receive relief. You do not need to apply for deferment of your premium payments or take any further action to receive relief.
You can choose to continue to report and pay on a monthly, quarterly or annual basis. You can also report now and defer payment until later.
We are continuing to work on processes related to the financial relief package and we will update our website with more information as it becomes available. For more details on how we are continuing to support businesses, visit wsib.ca.T