The ACT Government has relaxed reporting requirements for workers’ compensation, under a move to cut red tape.

A spokesman told insuranceNEWS.com.au employers must now notify their insurers only if the amount of wages they pay increases by more than $500,000.

This must be done within 30 days of any change.

Currently, employers must notify their insurers of staff numbers and wages every six months, even if they are unchanged.

From October 15, when an employer buys a workers’ compensation policy they must estimate the number of employees and wages to be paid during the cover’s life.

After a year the employer must tell the insurer the actual number of staff and wages paid during that period.

The reforms also mean a workers’ compensation certificate of currency will now be valid for up to six months.

“We expect these changes will remove the need for more than 50,000 administrative transactions annually,” the spokesman said.