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What Is a COIDA Return of Earnings (W.As.8)?
Quick Answer What Is a COIDA Return of Earnings (W.As.8)? The Return of Earnings (form W.As.8) is the annual COIDA declaration of the total earnings you paid employees. Filed online each year by 31 March, it determines your assessment: payroll divided by 100 multiplied by your industry tariff. Late filing adds a 10% penalty. What this means in plain language Think of it as COIDA’s annual return: the Fund cannot assess you until you declare what you paid. You declare actual earnings for the past year and estimate the year ahead. The assessment year runs 1 March to the end of February, which is why the return lands in March.…
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What Is COIDA and Do I Need It?
Quick Answer What Is COIDA and Do I Need It? COIDA (the Compensation for Occupational Injuries and Diseases Act) requires every employer to register with the Compensation Fund. In exchange for a yearly assessment on your payroll, the Fund – not you – pays when employees are injured or contract diseases at work. One employee is enough to trigger it. What this means in plain language COIDA is a trade: you pay a small annual assessment, and in return employees cannot sue you for workplace injuries – the Fund compensates them instead. It protects both sides. Registration is once-off; the ongoing duty is the annual Return of Earnings (W.As.8) declaring…
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