Lawcalc Updates - Increase earnings with CPI
- Arnold Shields
- Feb 4, 2010
- 2 min read
Updated: Jun 23
Updated Feature: Probable Earnings Indexed by CPI
In response to user feedback, we’ve introduced a new feature to the Simple Economic Loss section of Lawcalc. Users can now elect to increase probable earnings in line with inflation, using Consumer Price Index (CPI) adjustments.
The CPI indexation is based on the Weighted Average of Eight Capital Cities, as published by the Australian Bureau of Statistics (ABS). The reference index used is December 2009 – 169.5. You can access the latest CPI figures directly from the ABS at www.abs.gov.au.
How the CPI Adjustment Works
The base year (typically the financial year of injury) remains unadjusted.
CPI increases are applied annually from the second year through to the date of hearing.
The indexed probable earnings as at the hearing date are then used to calculate future economic loss.
This enhancement gives legal professionals and insurers a more realistic and inflation-adjusted view of economic loss, improving accuracy for personal injury damages assessments in New South Wales and Victoria.
What is Lawcalc?
Lawcalc by Dolman Bateman is a powerful online calculator for personal injury damages. It simplifies the complex task of estimating:
Economic loss
Domestic care costs
Future medical expenses
Tailored for use in NSW and Victoria, Lawcalc is trusted by solicitors, barristers, and insurance professionals for fast, transparent, and defensible calculations.
Access it now: http://lawcalc.dolmanbateman.com.au
Disclaimer:
The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.
