Maximum Wage Rate and Maximum Assessable Earnings
The maximum wage rate / maximum assessable earnings for 2012 is $80,024.
The maximum wage rate is a ceiling used to calculate the maximum benefits injured workers can receive for loss of earnings. It also affects pension amounts for some workers.
Generally, here's how it works: Injured workers compensated for wage loss receive 75 percent of their lost earnings, tax-free. An injured worker who makes $45,000 would receive 75 percent of $45,000. A worker who makes $100,000 would be affected by the maximum wage rate and would receive 75 percent of $80,024 in 2012.
Maximum assessable earnings is a number used in calculating employers' assessment payments. It determines the maximum level of earnings on which employers can be assessed.
Both maximums are the same number; they are revised every year according to methods set out in the Workers' Compensation Act.
The concept is similar to the maximums used in other legislated programs, such as the Canada Pension Plan (CPP).
Yukon Workers' Compensation Health and Safety Board
