sec.11Additional premium for late payment of premium— Act , ss 61 and 62

sec.11 Additional premium for late payment of premium— Act , ss 61 and 62

This section applies if an employer does not pay WorkCover, on or before the due date— the amount stated in a premium notice; or the amount by which a final assessment of an amount of premium by an industrial magistrate or the industrial court is more than the amount of premium paid under section 551 (4) of the Act . For sections 61 and 62 of the Act , the additional premium payable is— if the amount mentioned in subsection (1) is paid to WorkCover within 30 days after the due date—5% of the amount; or if the amount mentioned in subsection (1) is paid to WorkCover after 30 days but within 60 days after the due date—10% of the amount; or if the amount mentioned in subsection (1) is paid to WorkCover after 60 days after the due date or if the amount is not paid—10% of the amount plus interest at the annual rate mentioned in section 10 (2) (a) for the period that— starts on the due date, or a later date decided by WorkCover; and ends on the day the amount mentioned in subsection (1) and the additional premium under paragraph (a) or (b) is paid to WorkCover. This section does not apply if— the employer employs only household workers; or WorkCover has approved an instalment plan under section 10 and the employer complies with the plan. In this section— due date means— for an amount mentioned in subsection (1) (a) —the due date stated in the premium notice; or for an amount mentioned in subsection (1) (b) —the last day of the period mentioned in section 62 (1) (b) of the Act . (sec.11-ssec.1) This section applies if an employer does not pay WorkCover, on or before the due date— the amount stated in a premium notice; or the amount by which a final assessment of an amount of premium by an industrial magistrate or the industrial court is more than the amount of premium paid under section 551 (4) of the Act . (sec.11-ssec.2) For sections 61 and 62 of the Act , the additional premium payable is— if the amount mentioned in subsection (1) is paid to WorkCover within 30 days after the due date—5% of the amount; or if the amount mentioned in subsection (1) is paid to WorkCover after 30 days but within 60 days after the due date—10% of the amount; or if the amount mentioned in subsection (1) is paid to WorkCover after 60 days after the due date or if the amount is not paid—10% of the amount plus interest at the annual rate mentioned in section 10 (2) (a) for the period that— starts on the due date, or a later date decided by WorkCover; and ends on the day the amount mentioned in subsection (1) and the additional premium under paragraph (a) or (b) is paid to WorkCover. (sec.11-ssec.3) This section does not apply if— the employer employs only household workers; or WorkCover has approved an instalment plan under section 10 and the employer complies with the plan. (sec.11-ssec.4) In this section— due date means— for an amount mentioned in subsection (1) (a) —the due date stated in the premium notice; or for an amount mentioned in subsection (1) (b) —the last day of the period mentioned in section 62 (1) (b) of the Act .