Total Loss Calculator

To calculate a net loss:

Enter the PAV and salvage values in the relevant fields
Enter any costs like towing, hire, any uninsured losses, etc

Hint: press the + key to add a new field for costs!

Once you've added all your costs, select "Copy table" or press Enter to copy a table breaking down the calculation

How does total loss calculation work?

The first step of the calculation takes the Pre-Accident Value of the vehicle and reduces it by the 'decreasing amount', which represents GST
This is because companies registered for GST will claim tax credits on any GST paid, so they aren't entitled to also include the GST portion in a legal claim
We then add any additional costs to that figure (following the same principle that if GST was claimed on the cost, it can't be included in this calculation) and then take away the salvage amount, as that offsets the loss
You then figure out 10% of that figure and, if that 10% is lower than the decreasing amount, you add it back! If it's higher, then you just add back the decreasing amount

Hint: It's good to get a feel for doing total loss calculations manually to make sure you understand the formula before using automated tools like this one!

Total Loss Calculator

To calculate a net loss:

How does total loss calculation work?

Costs - 0.00