How you can get the Worksafe discount without crippling your cash flow
Yes, it’s that time of year again – soon Worksafe Victoria will be issuing Workcover premium notices to all Victorian businesses.
For businesses that pay their premium in full by the 7th August 2018 Worksafe Victoria offer a 5% discount, and with Workers Compensation Premiums being a large cost to your business, a 5% discount can result in significant savings. However, depending on your business operations, it's not always possible to pay the total amount upfront.
Have you considered premium funding?
By premium funding you can get the upfront payment discount from Worksafe without crippling impact to your business cash flow. AB Phillips offer premium funding - here’s how it works
- We pay your premium for you, in full, by the due date, enabling you to get the 5% Worksafe discount.
- You repay the loan in monthly instalments over 8 or 10 months at a low tax-deductible interest rate.* (Our interest rate is lower than the discount, so you still come out in front!)
Your business may save thousands of dollars. For example, if your Worksafe Premium is $150,000 you could save up to $4,785 by using AB Phillips Premium Funding.
- Pre-approval for all premiums under $150,000 with no additional information required*
- No ongoing fees
- Rate of interest is less that the discount - so you still save money.
“AB Phillips made the quote and approval process simple and easy.I was pre-approved within days, and applied online, with no additional paperwork. Premium funding enabled me to get the Worksafe 5% early payment discount - so I saved money and maintained my cash flow! I am thrilled with the expert advice received from the AB Phillips team."
Warwick Heinrichs, Finance Director
Hunt Engineering & Staff Pty. Ltd.
You don’t need to wait to receive your Premium Renewal notice from Worksafe to take action. We can provide you with a simulation of what your premium is likely to be, and complete all the paperwork in advance to ensure you don’t miss the Worksafe Victoria deadline.
Call us on 1300 242 136 or complete the form below to register your interest.
*Terms, conditions and eligibility criteria apply.