INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-15 - NON-ASSESSABLE INCOME  

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

Subdivision 54-B - Tax exemption for personal injury annuities  

Operative provisions

SECTION 54-15   54-15   Personal injury annuity exemption for injured person  


A payment of a *personal injury annuity that is made to the *injured person is exempt from income tax if the 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.


 

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