A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME    View history reference

Division 54 - Exemption for certain payments made under structured settlements and structured orders    View history reference

Subdivision 54-C - Tax exemption for personal injury lump sums    View history reference

Operative provisions

SECTION 54-45  

54-45  Personal injury lump sum exemption for injured person  

 View history reference
A payment of a *personal injury lump sum that is made to the *injured person is exempt from income tax if:


(a) there is at least one *personal injury annuity (provided under the same *structured settlement or *structured order) that satisfies the conditions in Subdivision 54-B ; and


(b) the other conditions in this Subdivision are satisfied.

Note:

Section 54-70 provides a tax exemption if the payment is instead made to the trustee of a trust.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page