141Compensation for deprivation or impairment of earning capacity

141 Compensation for deprivation or impairment of earning capacity (1) If a person injured as a result of an accident suffers deprivation or impairment of earning capacity by reason of the injury and, before the commencement of this section, made an application under the repealed Act or makes an application under Part 4 for a payment under this section or the corresponding provision of the repealed Act in respect of that deprivation or impairment, the Commission must, subject to this Act, pay to that person— (a) such amount as, in the opinion of the Commission, will adequately compensate that person for the deprivation or impairment of earning capacity suffered; or (b) $20 800— (2) The Commission must, for the purposes of determining under subsection (1)(a) an adequate amount of compensation in relation to any person, have regard to the loss of earnings which that person has incurred and the likely loss of future earnings which that person will incur by reason of the injury. (3) In subsection (2), ***earnings*** means such amount as, in the opinion of the Commission, the person concerned would have received by way of income from personal exertion but for the injury less such amount as the Commission reasonably considers to be the amount of income tax that would have been payable on those earnings under the Income Tax Assessment Act 1936 of the Commonwealth as amended and in force for the time being. (4) In determining for the purposes of subsection (1) the extent to which the earning capacity of any person has been impaired by reason of an injury, the Commission shall have regard to all relevant matters and in particular to— (a) the nature of the injury; and (b) the nature of the trade, business, profession or vocation in which that person is engaged or is likely to be engaged; and (c) medical evidence relating to the injury. (5) The Commission must in every case take into account in reduction of the sum assessed by it under subsection (1)(a) the aggregate amount of any benefits or other payments (not including an award of damages recovered in any court) which— (a) the person concerned has received or is entitled to receive by reason of the injury; and (b) are, in the opinion of the Commission, payable by way of compensation to that person for the deprivation or impairment of earning capacity suffered. S. 141(6) amended by No. 27/2001 s. 4(Sch. 2 item 4.13). (6) In subsection (3) ***income from personal exertion*** in relation to any person means the amount that is the income of that person consisting of earnings, salaries, wages, commissions, fees, bonuses, pensions, superannuation allowances, retiring allowances and retiring gratuities, allowances and gratuities received in the capacity of employee or in relation to any services rendered, the proceeds of any business carried on by that person either alone or in partnership with any other person, any amount received as bounty or subsidy in carrying on a business, the income from any property where that income forms part of the emoluments of any office or employment of profit held by that person, and any profit arising from the sale by that person of any property acquired by that person for the purpose of profit-making by sale or from the carrying on or carrying out of any profit-making undertaking or scheme, but does not include— (a) interest, unless that person's principal business consists of the lending of money, or unless the interest is received in respect of a debt due to that person for goods supplied or services rendered by that person in the course of that person's business; or (b) rents or dividends. S. 142 (Heading) inserted by No. 27/2001 s. 4(Sch. 2 item 4.14). S. 142 amended by No. 27/2001 s. 4(Sch. 2 item 4.15).