$2 Billion in WSIB Rebates Coming in 2025—Does Your Business Qualify?
Big news for Ontario small business owners! The provincial government is putting money back into your pockets with a $2 billion WSIB surplus rebate, set to roll out in February 2025. For small business owners, this rebate is a great chance to reduce costs, strengthen your finances, and reinvest in your business’s future.
In this post, we’ll break down everything you need to know about the rebate, how to qualify, and what you can expect from premium rate reductions. Plus, we’ll discuss how these changes will impact your bottom line.
What’s Happening?
Starting in early 2025, the Workplace Safety and Insurance Board (WSIB) will return $2 billion in surplus funds to eligible employers. This rebate is part of Ontario’s ongoing effort to support businesses and workers, and it’s not the only financial relief on the table:
Premium rate reduction: The WSIB average premium rate will drop from $1.30 to $1.25 per $100 of insurable payroll starting January 1, 2025. This is the lowest rate in more than 50 years.
Health and Safety Excellence Program: Ontario will offer $1,000 to employers who create a new health and safety action plan through the WSIB’s program.
Apprenticeship incentives: The province is removing the $150 fee for apprentices taking their first Certificate of Qualification exam, helping to make the trades more accessible.
These changes come at a crucial time, helping small businesses recover, reinvest in their workplaces, and improve workplace safety.
What Does This Mean for Small Business Owners?
If you’re running a small business, these changes could provide a significant financial boost. Here’s what to expect:
Rebates Applied to Your WSIB Account
If your business is eligible, the rebate will automatically be applied to your WSIB account. This can reduce any outstanding premiums or other obligations.
Prefer to get your rebate by cheque? You’ll have that option when you receive your eligibility notification in February 2025.
Lower Premium Rates
The premium rate cut means businesses in most industries (32 out of 35 WSIB rate classes) will see lower or unchanged rates.
Lower premiums mean direct savings for your business on payroll-related costs.
Additional Incentives for Safety Programs
If you join the WSIB’s Health and Safety Excellence program, you could receive a $1,000 incentive to implement a workplace safety plan. This not only helps protect your team but also improves your business’s eligibility for future WSIB benefits.
No Action Needed (for Now)
The WSIB will notify eligible businesses of their rebate details starting February 2025. For now, all you need to do is ensure that your account is up to date with WSIB requirements.
Am I Eligible for the 2025 WSIB Rebate?
To qualify for the rebate, businesses must meet certain criteria. Here’s a checklist of eligibility requirements:
Your business must have an active account and premium payment obligations as of November 1, 2024.
You must have had premium obligations in 2023.
Your business must not have been convicted of a Workplace Safety and Insurance Act or Occupational Health and Safety Act offence in 2024 or 2025 (up to the date the rebate is issued).
Your business must not have had more than one traumatic workplace fatality between 2020 and 2025, or have had a fatality attributed to the organization in 2024 or 2025.
Your business must not be affiliated with another business that is ineligible based on these criteria.
If you’re not sure about your eligibility or want to confirm your account status, it’s a good time to reach out to WSIB or work with a trusted bookkeeping and tax professional—like Small-Books!
How Much Will My Rebate Be?
The rebate amount will depend on your business’s premium history and classification. To find out how much you could receive:
Wait for the WSIB notification in February 2025.
Contact WSIB directly for a detailed estimate if you want to know sooner.
Small businesses often work with tight margins, so this rebate could make a meaningful difference in your bottom line.
Don’t Miss Out on These Opportunities
The rebates and support for safe workplaces being announced are more than just extra cash in the pockets of small businesses—it’s a chance to reinvest in your business, strengthen your finances, and prioritize worker safety. For example, in the case of a construction business with 50 employees, this could mean receiving $46,000 to reinvest in new jobs, enhanced health and safety programs and bigger paycheques. With the new year just around the corner, now is the time to ensure your WSIB account is in good standing and make the most of these programs.
Need support? Small-Books is here to help you take advantage of this rebate and set your business up for long-term success.
Reach out to us today to get started!
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This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Small-Books assumes no liability for actions taken in reliance upon the information contained herein.
