Northern Territory Consolidated Acts Northern Territory Consolidated Acts22. Discount rate for future pecuniary loss
(1) If a court awards damages that include a lump-sum component for future pecuniary loss, the amount of that component is to be assessed in accordance with discounted present values.
(2) In this section -
discounted present values means the calculation at the prescribed discount rate of the present value of the future pecuniary loss by the use of an actuarial multiplier.
prescribed discount rate means -
(a) the discount rate, expressed as a percentage, prescribed by the Regulations; or
(b) if no discount rate is prescribed by the Regulations - the discount rate of 5%.