What is WSIB?

The Workplace Safety and Insurance Board (WSIB) is Ontario’s board for workplace insurance in the province. Most businesses with employees are required to register with the WSIB. The general purpose of workers’ compensation and benefits plans is to assist and protect workers if they are injured while on the job. Typically, When an injury or illness occurs to an employee on the job, workers’ compensation organizations such as WSIB move quickly to provide and facilitate a range of support options such as wage-loss benefits, medical coverage, and other support options such as survivor benefits and counseling etc.

Looking to register your business with WSIB and initiate filings?

If a business is incorporated and has employees, it will be required to register with a provincial workers’ compensation board (WSIB in Ontario). Once registered, WSIB will require your company to pay monthly premiums into the plan. These premiums vary in amount, depending on the industry sector you are in and type of work you do.

In assessing your business’s WSIB obligations, we will work with you to identify and implement any available cost-saving opportunities. We can handle the entire process for you which would include:

  1. Registering your business with the local workers compensation board (WSIB in Ontario).
  2. Identify and set up any cost-saving opportunities available to you in your plan
  3. Calculate your monthly/quarterly/yearly premiums and submit filings on your behalf.
  4. Perform regular reconciliations to ensure you account with WSIB is up-to-date.

If you are looking to have one firm take care of accounting and tax needs then you have arrived at the right spot! We offer a special service which we call Outsourced Accountant through which we can take care of all the accounting, payroll, hst, consulting, personal tax, and corporate tax needs for you and your business! Curious if that is suitable for you? Click on the following link to find out more:

What is Outsourced Accountant?

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