Forensic Accounting

Australia's income tax rates changed from 1 July 2024, with the second marginal rate falling from 19% to 16%. This directly affects how net wages are calculated in economic loss reports and must be correctly applied to assessments covering the 2025 and 2026 financial years.

Workers compensation weekly payments in NSW are subject to caps that change every six months through indexation. Understanding how the different tiers and thresholds work is essential for anyone assessing past or future weekly benefits.

When a worker dies as a result of a workplace injury or dust disease, NSW legislation provides specific death benefits to their dependants. These include an indexed lump sum and weekly payments, and the amounts in force at the date of death are critically important.

Following Gray v Richards, two methodologies have developed for calculating fund management costs in personal injury matters. The Present Day Value and Actual Value approaches can produce materially different results, and understanding both is important for legal teams and their clients.

A large personal injury award placed under formal management will attract significant ongoing fees. The cost of fund management is a recognised head of damage that can add hundreds of thousands of dollars to a claim and must be carefully calculated.