Ontario businesses to receive rebates in April
The Ministry of Labour, Training and Skills Development (MLTSD) along with the Workplace Safety and Insurance Board (WSIB) has announced a rebate of surplus funds of up to $1.5 billion to eligible safe Ontario businesses.
Ontario's safe employers are receiving a rebate of up to $1.5 billion as Workplace Safety and Insurance Board (WSIB) surplus funds are returned for the first time. This rebate will give 300,000 businesses back approximately 30 per cent of their annual premium payments. The surplus funds are being distributed at a time when businesses are coping with the impacts of the COVID-19 pandemic.
The Ministry says the surplus distribution will only be provided to safe employers, who will receive their rebates starting in April.
“Our job is to always be here to help people who need us,” said Jeffery Lang, President and CEO of the WSIB. “The best way to do that is to remain fully funded and focus on improving our services. The rebate is surplus money that could sit in our bank account, but it’s better used by Ontario businesses to invest in health and safety to make Ontario a safer place to work.”
Businesses must meet all eligibility requirements to receive a rebate. Details on eligibility requirements along with additional information about the surplus distribution is available at www.wsib.ca/rebate