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Thread: 2021 COIDA Assessments: Compensation Fund

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    2021 COIDA Assessments: Compensation Fund

    For information to members:

    A) Section 85 (1) and Section 78 reductions on the standard tariff rates were withdrawn with effect from 1 March 2021 - GG 44331 of 25 March 2021. This has the effect that the second leg of the assessment would not apply the reduction. Depending on your reduction rate and assessment, this can be a significant amount.

    B) Some of the sub-sector tariff rates charged differs from that promulgated in GG 43959 of 3 December 2020. From 25 different sub-classes submitted so far, we found 14 to be incorrect. We have discussed with senior staff at the Fund and the current feedback is that the assessment is correct and that an errata would be published regarding the GG.

    C) We have a client that had a Section 85 reduction of 70% and, over and above the removal of the reduction on the second leg as per A), had their reduction reduced to 40%. Staff of the relevant section informed us that notifications to effected employers are in the process of being drawn up and that effectively all reductions previously granted would be limited to 40%. Again, depending on your reduction rate and assessment, this can be a significant amount.

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    Easier to change the Government Gazette notice than to change Compensation Fund's systems...

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    Site Caretaker Dave A's Avatar
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    Returns for this year (2020 according to the ROE system) only opened in April. I filed our return yesterday (12th April) and now that I have received the emailed assessment, I see a Sec 83(6) 10% penalty has been raised against the Final Assessment 2020 value. How can the Commissioner raise this penalty when the deadline for returns has been extended due to their system not being ready timeously?

    Where can one send an appeal against the raising of this penalty charge?

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