In response to users suggestions, we have now included an option to increase probable earnings with CPI increases.
Users now have the option in the “Simple Economic Loss” scenarios to specify whether to increase probable earnings with CPI. We have used CPI – Weighted Average Eight Capital Cities as published by the Australian Bureau of Statistics. The index for December 2009 was 169.5. A copy of the CPI indexes can be found on the ABS website at www.abs.gov.au
The indexation is not applied in the first financial year which is assumed to be the base, but it is applied in all years up to the date of hearing. The CPI indexed earnings at the date of hearing will be applied to future economic loss calculations.
Lawcalc by Dolman Bateman is a online personal injury damages calculator that calculates economic loss, domestic care and future medical expenses for personal injury litigation in New South Wales and Victoria.
Lawcalc can be found at http://lawcalc.dolmanbateman.com.au