Introduction to QOTE
QOTE, or Queensland Ordinary Time Earnings, serves as the benchmark for compensation in the aftermath of a workplace injury. Delve into the current figures and comprehend the pivotal role QOTE plays in determining your compensation.
Current QOTE Figures: A Crucial Insight
Stay informed about the latest QOTE figures. These numbers directly impact compensation adjustments, ensuring you receive fair and accurate financial support in the event of a workplace accident.
Effective Date | Amount ($) | QOTE Change (%) |
|---|---|---|
01/07/2006 | 969.50 | - |
01/07/2007 | 1,010.40 | 4.219 |
... | ... | ... |
01/07/2022 | 1,671.40 | 3.47 |
01/07/2023 | 1,760.70 | 5.34 |
QOTE and Compensation Adjustments
Why It Matters:QOTE serves as the basis for adjusting compensation amounts, ensuring they align with current economic conditions. Familiarize yourself with the impact of QOTE changes on the compensation you may be entitled to.
Payable Amounts of Compensation: Your Rights Defined
Understand the various compensation components outlined in the Act, each intricately linked to QOTE adjustments. This comprehension is vital for securing your entitlements after a workplace injury.
Types of Compensation Include:
- Lump sum compensation for terminal conditions
- Weekly payments of compensation
- Additional lump sum compensation
- Support for a worker's dependants
Unraveling the Legal Framework
Explore the relevant sections of the Workers’ Compensation and Rehabilitation Act 2003. Sections 10A and 205 to 207 hold the key to understanding the intricacies of compensation adjustments. Consult with your workers' compensation insurer for personalized insights and details applicable from 1 July.