Home – New Forums Money matters Paying Sole Director, Company Expenses Reply To: Paying Sole Director, Company Expenses

#1109812
yourvirtualboard
Member
  • Total posts: 569
Up
0
::
Ben__Young, post: 122344 wrote:
Ok great,

RE: Workers comp:

Under the South Australian Workers Rehabilitation and Compensation Act 1986 (the Act), all employers must register with WorkCover within 14 days of employing workers, unless you are exempted. From 1 July 2012 if you pay your workers less than $11,597* in the 2012-2013 financial year, you are exempted and are therefore not required to register and pay a premium unless a claim is lodged by one of your workers. However, if you cross this $11,597* threshold, you must register with WorkCover within 14 days.

I’ll wait until i hit that threshold i think, the less money coming out of the account in the next few months the better :)

Depending on what you intend to do (high or low risk according to workcover) and also with those figures cover will be very affordable, which may be worth considering as you would then have cover.