New South Wales Consolidated Acts

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MOTOR ACCIDENT INJURIES ACT 2017 - SECT 4.9

Damages for future economic loss--discount rate

4.9 Damages for future economic loss--discount rate

(cf s 127 MACA)

(1) If an award of damages is to include compensation, assessed as a lump sum, in respect of damages for future economic loss that is referable to--
(a) deprivation or impairment of earning capacity, or
(b) loss of expectation of financial support,
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.



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