Discount a future lump sum at the statutory rate
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the future loss and the discount rate the lawyer has accepted, the firm-controlled tool shows the present value and leaves the cell blank if either figure is missing. It does not write a schedule that will be filed or served.
- What the lawyer must review
- You name the discount rate, or you confirm that no regulation prescribes one.
- You decide which future losses the section discounts, and which scheme award it leaves out.
- Use a firm-controlled tool. Wage, tax and care records are confidential under ASCR r 9 and APP 11.
- Decide whether a breach would be notifiable under the Privacy Act 1988 (Cth).
Open a jurisdiction version of this task to see which instruments apply: VICNSWQLD
Who does what
| Role | What they do |
|---|---|
| Assistance | From the future loss and the discount rate the lawyer has accepted, the firm-controlled tool shows the present value and leaves the cell blank if either figure is missing. It does not write a schedule that will be filed or served. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm whether the claim is a Civil Liability Act award, a motor-accident award, a work-injury award, or a Wrongs Act Part VB award.
- Use 5 per cent only where the section says that rate applies if no regulation prescribes another percentage.
- Do not discount a head the section does not mention.
- Show the deferral period and the rate the lawyer accepted, and leave the result blank if either is missing.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| Letter of instruction to an actuary on future loss | Letter | AI use Yellow | Letter asking an actuary to value future earnings and future treatment streams on the lawyer's assumptions, with the rate, percentage and life table left blank. |
| Victoria Wrongs Act caps worksheet | Other | AI use Yellow | Worksheet for the Wrongs Act 1958 (Vic) limits that were opened: the earnings cap, the indexed non-economic loss maximum, the discount rate, and the gratuitous care limits. |
Signed-in accounts can read the full text of each one. All precedents.
Sources
- Civil Liability Act 2002 (NSW) s 14 · 2026-10-23
- Motor Accident Injuries Act 2017 (NSW) s 4.9 · 2026-10-23
- Wrongs Act 1958 (Vic) s 28I · 2026-10-23
- Civil Liability Act 2003 (Qld) s 57 · 2026-10-23
- Civil Proceedings Act 2011 (Qld) s 61 · 2026-10-23
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.
If a figure is copied into a document filed in court, the lawyer checks that court's generative-AI practice note. The opened notes are the New South Wales Supreme Court page for Practice Note SC Gen 23, the Victorian Supreme Court news page for Practice Note SC Gen 25, and the Law Society of NSW court-protocols page. The practice-direction PDFs were not opened.