At Catalyst, we have been monitoring the COVID-19 situation and updating our clients when we find information that we think will be helpful for them during this time. The Government of Alberta recently announced another measure we feel will be beneficial for private sector employers in the form of Workers Compensation Board (WCB) premium deferrals.
• All private sector employers will have their 2020 WCB premiums deferred to 2021.
• When invoicing resumes for 2020 premiums in 2021, small- and medium-sized private sector employers will have 50 per cent of their 2020 premiums waived.
Invoices for 2020 premiums have been stopped for the remainder of the year and WCB will refund employers who have already made payments towards their 2020 premiums. No interest charges will be applied for unpaid 2020 premiums.
The WCB has put together a great question and answer document that outlines how the process works, and anything employers should know. You can view this here.
As always, if you have any questions please feel free to reach out to your trusted Catalyst Advisor or email@example.com.