Economic loss in NSW personal injury matters is calculated on a net wage basis, after income tax. Getting the net figure right requires applying the correct tax rates for each financial year — and since those rates changed in 2024, outdated tables will produce incorrect results.

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.