Treasurer Rob Lucas today welcomed the decision by the Return To Work South Australia Board to reduce their average premium rate for businesses to 1.7 per cent for 2018/19.
This new average premium rate of 1.7 per cent is reduced from 1.8 per cent this year and will be the lowest in the scheme’s history. ReturnToWorkSA estimates this will mean a saving of about $28 million for premium paying employers next year.
“The Government also welcomes ReturnToWorkSA’s statement that the scheme continues to be fully funded and that their return to work rates are trending positively,” said Treasurer Rob Lucas.
“The Marshall Government has made it clear the key to creating jobs in South Australia is reducing the costs of doing business in South Australia so that our businesses can be nationally and internationally competitive.
“This reduction in workers’ compensation costs together with cuts to payroll tax and ESL bills are consistent with that policy goal.”
Whilst this reduction to 1.7 per cent is welcomed the following table indicates there is still more work to be done:
“The Marshall Liberal Government thanks the Board and staff of ReturnToWorkSA and acknowledges the legislation introduced by former Minister John Rau (and supported by the Liberal Party) for their part in achieving this positive result,” said Mr Lucas.