On November 21, 2024, the Ontario government announced that the Workplace Safety and Insurance Board (WSIB) will return more surplus funds ($2 billion) to eligible Ontario employers starting in February 2025.
The government also announced a 5-cent reduction in the WSIB’s average premium rate for Ontario businesses ($1.30 to $1.25 per $100 of insurable payroll) starting on January 1, 2025.
This means that in less than three years, CFIB will have delivered over $3 billion in WSIB surplus rebates PLUS the lowest average premium rate in 50 years!
In April 2022, the WSIB distributed the first surplus rebates in Ontario’s history totaling $1.2 billion to almost 300,000 eligible businesses.
How will I know if I qualify for the 2025 surplus rebate?
Businesses will be notified by the WSIB about their individual eligibility in February 2025. To be eligible, businesses must meet workplace safety and other criteria, such as having an active account and premium payment obligations as of November 1, 2024.
In what form will the surplus rebates be distributed?
The rebates will be applied directly to eligible businesses’ accounts. If you wish to receive the surplus rebate by cheque, more information will become available when you are notified of your business’s eligibility in February 2025.
How much of a rebate will my business receive?
Business owners should contact the WSIB directly to determine their specific rebate amount.
How will the average premium rate reduction affect my business’s rates in 2025?
It will mean a rate decrease or no change for 32 of the WSIB’s 35 rate classes.
To see your new rate and compare it with your 2024 rate, visit the chart here.
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