Discount a Victorian future lump sum under section 28I or section 93
MaintainedLast reviewed
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- In a firm-controlled tool, discount a future economic-loss lump sum at 5 per cent, or at another percentage the lawyer says the regulations prescribe, only where the lawyer says Part VB applies. On an award the lawyer says is under Transport Accident Act section 93, use 6 per centum only for the future loss subsection (13) names. The tool does not write a schedule that will be filed or served.
- What the lawyer must review
- Decide whether Part VB applies, and whether a regulation prescribes a percentage other than 5 per cent.
- Do not use 5 per cent on an award section 28C takes outside Part VB.
- On a section 93 award, apply 6 per centum only to the future loss that subsection (13) names.
Rules that apply
The document starts from the task name. Change it if this piece of work is different.
The work product
Forum. Victoria: discount rate under section 28I, or 6 per centum under section 93(13)
Produce. A present-value working, at the rate the lawyer accepts, or a blank where Part VB may not apply.
Have ready. The future lump sum the lawyer accepts; Whether the lawyer says Part VB applies; Any prescribed percentage the lawyer has found.
Example of the limit. Illustrative example: The lawyer says Part VB applies and no other percentage has been found. The working uses 5 per cent and notes that a regulation was not opened. The lawyer checks the regulations before the figure is used.
Stop and hand it back when
- The award may be a transport-accident or workplace award and the lawyer has not decided.
- The tool would state that no regulation exists.
Sources for this task were checked on 2026-10-23.
Who does what
| Role | What they do |
|---|---|
| Assistance | In a firm-controlled tool, discount a future economic-loss lump sum at 5 per cent, or at another percentage the lawyer says the regulations prescribe, only where the lawyer says Part VB applies. On an award the lawyer says is under Transport Accident Act section 93, use 6 per centum only for the future loss subsection (13) names. The tool 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
- Use section 28I only for a lump sum of economic loss referable to the future, and only where Part VB applies.
- The rate is the percentage prescribed by the regulations, or 5 per cent if none is prescribed. No regulation prescribing another percentage was opened. Do not state that none exists.
- Do not apply 5 per cent where section 28C takes the award outside Part VB.
- Where the award is under Transport Accident Act section 93, subsection (13) uses 6 per centum for the future loss it names. Do not use that rate on another award.
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
- Wrongs Act 1958 (Vic) section 28I · 2026-10-23
- Wrongs Act 1958 (Vic) section 28C · 2026-10-23
- Transport Accident Act 1986 (Vic) section 93 · 2026-10-23
Section 28I: if an award includes any component, assessed as a lump sum, for economic loss referable to the future, the present value is determined by adopting the prescribed discount rate. The prescribed rate is the percentage prescribed by the regulations, or 5 per cent if no percentage is prescribed. Except as the section provides, nothing in it affects any other law relating to the discounting of sums awarded as damages. No regulation prescribing another percentage was opened. Future treatment that is economic loss is inside the section where Part VB applies. Where an award of damages in accordance with Transport Accident Act section 93 includes a lump sum for future loss referable to deprivation or impairment of earning capacity, loss of the expectation of financial support, or a liability to incur expenditure in the future, subsection (13) says the present value must be qualified by adopting a discount rate of 6 per centum. Subsection (14) says that, except as subsection (13) provides, nothing in that subsection affects any other law relating to the discounting of sums awarded as damages. Do not use 6 per centum on an award that is not under section 93.
Wrongs Act 1958 section 28C(2) leaves Part VB out of an award where the fault is an intentional act done with intent to cause death or injury, or sexual assault or other sexual misconduct; an award to which Transport Accident Act 1986 Part 3, 6 or 10 applies; an award to which Accident Compensation Act 1985 Part IV or Workplace Injury Rehabilitation and Compensation Act 2013 Part 7 applies; and an award to which the Workers Compensation Act 1958 applies. Other exclusions are on the section, including victims of crime assistance and a sum payable under a superannuation scheme or a life or other insurance policy. Section 28C(2A) leaves the Part out of assistance under the Victims of Crime (Financial Assistance Scheme) Act 2022. The lawyer decides whether Part VB applies. The tool does not.