New South Wales Consolidated Acts New South Wales Consolidated Acts(cf s 71 MAA)
(1) Where an award of damages is to include compensation, assessed as a lump sum, in respect of damages for future economic loss which is referable to--(a) deprivation or impairment of earning capacity, or(b) loss of expectation of financial support, or(c) the value of future services of a domestic nature or services relating to nursing and attendance, or(d) a liability to incur expenditure in the future,the present value of the future economic loss is to be qualified by adopting the prescribed discount rate.
(2) The
"prescribed discount rate" is--(a) a discount rate of the percentage prescribed by the regulations, or(b) if no percentage is so prescribed--a discount rate of 5%.
(3) Except as provided by this section, nothing in this section affects any other law relating to the discounting of sums awarded as damages.