What is COIDA?
The Compensation for Occupational Injuries and Diseases Act, which requires employers to register with the Compensation Fund and pay annual assessments.
COIDA provides compensation to employees injured or made ill at work. Employers fund it; employees do not contribute. You must register with the Compensation Fund when you employ staff.
Each year you submit a Return of Earnings declaring your payroll, and the Fund issues an assessment you must pay. Staying up to date is what allows you to get a Letter of Good Standing.
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COIDA registration