2 years 2.765 3 years 3.075 4 years 3.395 5 years 3.455 6 years 3.665 7 years 3.870 8 years 4.050 9 years 4.115 10 years 4.230 11 years 4.315 12 years 4.315 * Average of forward estimates of the rates as assumed in the 201314 Budget Update plus 1% for progression and promotion (3.3125%+ 1%). ** The annual effective rate is based on the 10 year rate for semiannual coupon bonds RBA’s *** Source: Reserve Bank of Australia Indicative Mid Rates of Commonwealth Government Securities 2013 to Current, . – – Long Service Leave discount rates: 30 September 2013 (issued 1 Oct 2013) The following wage inflation rate and discount rates as at 30 September 2013 are provided to assist in the calculation of Long Service Leave liabilities. The wage inflation rate is consistent with the forecast rates in the 201314 Budget (published May 2013), with an additional allowance for progression and promotion. Table 1: Rates to be used with the 2008 Long Service Leave Model Year % Wage inflation* 201314 4.500 Discount rates** 201314 3.938 Table 2: Rates to be used with the 2004 Long Service Leave Model Year % Wage inflation* 201314 4.500 Discount rates*** 1 year 2.450 2 years 2.705 3 years 2.935 4 years 3.040 5 years 3.250
2 years 2.765 3 years 3.075 4 years 3.395 5 years 3.455 6 years 3.665 7 years 3.870 8 years 4.050 9 years 4.115 10 years 4.230 11 years 4.315 12 years 4.315 * Average of forward estimates of the rates as assumed in the 201314 Budget Update plus 1% for progression and promotion (3.3125%+ 1%). ** The annual effective rate is based on the RBA’s 10 year rate for semiannual coupon bonds *** Source: Reserve Bank of Australia – Indicative Mid Rates of Commonwealth Government Securities – 2013 to Current, . Long Service Leave discount rates: 30 September 2013 (issued 1 Oct 2013) The following wage inflation rate and discount rates as at 30 September 2013 are provided to assist in the calculation of Long Service Leave liabilities. The wage inflation rate is consistent with the forecast rates in the 201314 Budget (published May 2013), with an additional allowance for progression and promotion. Table 1: Rates to be used with the 2008 Long Service Leave Model Year % Wage inflation* 201314 4.500 Discount rates** 201314 3.938 Table 2: Rates to be used with the 2004 Long Service Leave Model Year % Wage inflation* 201314 4.500 Discount rates*** 1 year 2.450 2 years 2.705 3 years 2.935 4 years 3.040 5 years 3.250