Insurable earnings for sole proprietors in construction

Please note: If you are a sole proprietor without workers you are considered an independent operator.

If you are a sole proprietor in construction with workers, you can use the earnings you reported to the Canada Revenue Agency (CRA) last year to estimate your earnings for this year. You will find this number on line 135 of the T1 General form you submitted to the CRA.

If you have just started your business, you can use, as a minimum, one third (33.3%) of the annual insurable earnings maximum as an estimate for your insurable earnings (this would be 33.3% of $88,000 in 2016).

As a sole proprietor who employs workers, you are responsible for reporting on and paying premiums for workers you employ, as well as yourself. If actual earnings turn out to be different than the amount reported, please let the WSIB know. Changes can be made as many times as necessary throughout the year.

Please note: When the time comes for you to report and submit your premiums, you will receive a form regarding your premiums.

If you already know what rate group you’re in, try the insurable earnings and premium estimator for the construction industry. It will help you estimate your insurable earnings and premium amounts for your construction business.

If you don’t know which rate group you are in, you can use the WSIB’s Employer Classification Manual to find out.

How Often do You Need to Report on your Insurable Earnings and Pay your Premiums?

Annual Insurable Earnings

Report and Pay

WSIB Mailing Date to Employer

Employer Due Date

$300,000+ Monthly Middle of each month End of following month
$20,000 to $299,999 Quarterly Middle of March, June, September and December End of following month
Less than $20,000 Yearly Middle of March April 30

 

What do You Need to do to Report your Insurable Earnings and Pay your Premiums?

You need to:

  • Have your earnings records available (T1General for yourself and earnings records for your workers, including contractors you are covering).
  • Calculate insurable earnings (the sum of your earnings plus your workers’ earnings including the labour portion of the contract for contractors that you and the WSIB consider to be your workers), minus any deductions and multiply by your premium rate.
  • Have your premium remittance form completed and send the bottom portion of the form along with payment, to the WSIB by the due date.

Please note: Forms and payments not received by the due date are considered late and are subject to non-compliance charges

How do You Send in your Remittance Form?

You have a few options for submitting your remittance form; you can:

  • Mail it in.
  • Use our online ePremium service.
  • Report by phone by calling us Monday to Friday from 7:30 a.m. to 5:00 p.m. at 416-344-1000 or 1-800-387-0750 (TTY 1-800-387-0050).
  • Deliver it in person at any of our offices.

What Payment Methods can you Use?

You can pay your premium in several different ways:

  • Use our ePayment option to pay by MasterCard or Interac Online.
  • Pay through your bank or financial institution.
  • Visit your local WSIB office to pay by debit card or drop off a cheque (please note that the WSIB does not accept cash payments).
  • Mail the bottom part of your Premium Remittance Form with your cheque to the address on the remittance form stub. You can use the pre-addressed envelope that comes with your form.