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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 Happens If I Don’t Submit My COIDA Return of Earnings?
Quick Answer What Happens If I Don't Submit My COIDA Return of Earnings? If you skip the COIDA Return of Earnings, the Compensation Fund estimates your assessment (usually upward), adds a 10% late penalty, and blocks your Letter of Good Standing – which kills tenders. Worst of all, a workplace injury while non-compliant leaves you personally liable for compensation. What this means in plain language The Fund does not chase you gently. An unfiled return triggers an estimated assessment based on what they think you owe – and estimates are rarely kind. The hidden cost is the Letter of Good Standing: no current return and payment, no letter. Construction sites,…
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