Insights
COIDA return of earnings checklist
The return of earnings is a short form built on payroll data most employers have not prepared. This checklist covers what to assemble before you start.
Before you submit
- Confirm registration details and that the industry classification still matches your operations
- Extract total earnings per employee for the assessment period from payroll
- Apply the prescribed maximum earnings per employee
- Confirm which earnings types are included and which are excluded
- Include directors and working members where they fall within the Act
- Reconcile the total to your payroll expense in the general ledger
After the assessment
Check the tariff applied against your classification, pay the assessment by the due date, and request an updated letter of good standing for your client and tender files.
Why classification matters
Tariffs vary substantially by industry risk. An outdated classification can cost more than the administration of fixing it — see COIDA.
Frequently asked questions
Who must submit a return of earnings?
Every employer registered with the Compensation Fund, annually by the published deadline.
Are directors included in the return?
Working directors and members who earn remuneration generally fall within the Act and should be included; confirm the treatment for your entity type.
What is a letter of good standing used for?
It proves your COIDA returns and assessments are current, and is commonly required before a client or principal will award or continue work.
Patuza extracts and reconciles the earnings data your ROE needs.
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