Posted on February 23, 2023 in Payroll Personal Tax Since You Asked Small Business

“I am a sole proprietor with no employees so I am not eligible for WorkSafeBC.


Let’s start with what WorkSafeBC is - it is a government organization that pays you when you get injured at work. Similar to how EI pays employees who lose their jobs generally without cause.

When you are an incorporated business, being registered for WorkSafeBC is mandatory. When you are a sole proprietor or a partner in a partnership, although it is not mandatory, there is coverage that you can still apply for.

It is called Personal Optional Protection (POP) and is something that should be considered when you otherwise have no coverage. POP pays for health care, wage loss (90% of coverage) and rehabilitation benefits if you are injured at work.

Currently, the minimum coverage is $2,700 per month, however, you can choose higher amounts, up to the maximum of $9,400 per month. But if applying for more than $5,000, you will need to provide proof of earnings. The amount you pay is based on your premium rate. Low-risk jobs will have lower rates than higher-risk jobs. As an example, if your rate is 1.7% and you want coverage of $4,000 per month, the premiums would be $68/month.

There is no delay in the start date of the coverage unless you choose a later date and it will be in effect until you cancel it.

POP can be a cost-effective way to protect yourself if you get injured at work. There are various other plans available that a financial planner could walk you through but either way, what is most important is that you have coverage to protect you and your family if you get injured.

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***This blog is for information only and not to be used as tax advice or planning without first seeking professional advice. Information is subject to change without notice.