The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to social security payments. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.E.10 Economic loss compensation

Usage

This definition applies to all payments.

Definition

Economic loss compensation is a compensation payment that is made wholly or partly in respect of lost earnings or lost capacity to earn, resulting from a personal injury.

Economic loss compensation includes lost wages (past economic loss), interest on past economic loss, lost capacity to earn (future economic loss) and lost superannuation contributions.

Act reference: SSAct section 17(2) Compensation, Part 3.14 Compensation recovery

Policy reference: SS Guide 1.1.C.250 Compensation affected payment, 1.1.N.110 Non-economic loss compensation, 4.13.2.40 Compensation Part of Lump Sum - Judgement by Contested Hearing, 3.1.9 Compensation provisions, 4.13 Compensation, 6.4 Compensation Recovery

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