Under the amendments, from 4pm on 30 June 2008, only employers with annual wages greater than $7,500 will be required to take out workers compensation insurance or where an employer engages an apprentice/trainee or is a member of a Group for workers compensation purposes. 

Another change, which will assist employers, is the simplification of workers compensation record keeping requirements, with a reduction of the period that wages records must be kept, from seven to five years. This change takes effect from 20 May 2008 and aligns New South Wales' workers compensation requirements with those of Victoria and the Australian Taxation Office for business records.