Document ID: chunk:federal_register_of_legislation:C2010C00599:clause:1_16
Version: federal_register_of_legislation:C2010C00599
Segment Type: clause
Provision Reference: sch 1 cl 16
Character Range: 7791–8472

16  Section 53‑1 (link note)
Repeal the link note, substitute:

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

Table of sections

54‑1 Application of Division 54 of the Income Tax Assessment Act 1997

54‑1  Application of Division 54 of the Income Tax Assessment Act 1997

 (1) Division 54 of the Income Tax Assessment Act 1997 applies to assessments for the 2001‑2002 income year and later income years.

 (2) However, the Division does not apply unless the *date of the settlement or order is 26 September 2001 or a later date.

Division 1A—Amended definitions of exempt life insurance policy and life insurance premium