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Small Employers

At each renewal of their workers compensation policy, small employers in NSW are required to declare to their workers compensation insurer the actual wages paid for the expiring policy period. This form must be completed and returned to GIO within 4 months after the policy expiry date. A declaration of estimated wages in not required for small employers. Their renewal premium is based on actual wages from previous years.

Medium/Large Employers

At each renewal of their workers compensation policy, medium/large employers in NSW are required to declare to their workers compensation insurer the actual wages paid for the expiring policy period and an estimate of wages for the next policy period. GIO Workers Compensation customers will receive a Declaration of Estimated Wages and Declaration of Actual Wages form in the mail about 1 month prior to their renewal date. These forms must be completed and returned to GIO within 2 months after the policy expiry date. If the Declaration of Estimated Wages form is not received within 2 months of the policy expiry date the policy will be automatically renewed using the previous year’s wages, increased by 30%.