Visitors GuideLabour Minister Joan Burke has announced a break for small businesses in making their workers compensation assessment payments. Burke says companies with an assessment of less than $54 thousand will be able to pay through electronic funds transfer over seven months, from April to October, interest free.
Until now the entire assessment was due on April 1st, with late payments subject to an interest rate of 'prime plus five per cent'. Burke says the new arrangement is an interim measure, since a major overhaul of the current assessment and reporting system is in the works for January 2007. The commission will be holding consultations with employers on what they'd prefer to see in the long-term.
For more information visit www.whscc.nf.ca
Excerpt from VOCM News, March 4, 2005
