Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 1/32)
Character Range: 1384029–1387310

5                              Wounds and disability pension  Not applicable                                                                 The payment must be:
                                                                                                                                             (a) of a kind specified in section 641 of the Income Tax (Earnings and Pensions) Act 2003 of the United Kingdom; and
                                                                                                                                             (b) similar in nature to payments that are exempt under Division 52 or this Division

53‑20  Exemption of similar Australian and United Kingdom veterans' payments
  The following payments made by the Government of Australia, or the Government of the United Kingdom, are exempt from income tax:
 (a) payments similar to payments under the Veterans' Entitlements Act 1986 that are exempt under Subdivision 52‑B;
 (b) payments similar to payments that are made because of the Veterans' Entitlements (Transitional Provisions and Consequential Amendments) Act 1986 and are exempt under Subdivision 52‑C.

53‑25  Coronavirus economic response payment
  A payment is exempt from income tax if:
 (a) the payment is paid in accordance with rules made under the Coronavirus Economic Response Package (Payments and Benefits) Act 2020; and
 (b) those rules state that the payment is exempt from income tax.

53‑30  Territories Stolen Generations Redress Scheme payments are exempt
  Payments under the scheme known as the Territories Stolen Generations Redress Scheme are exempt from income tax.

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

Table of Subdivisions
 Guide to Division 54
54‑A Definitions
54‑B Tax exemption for personal injury annuities
54‑C Tax exemption for personal injury lump sums
54‑D Miscellaneous

Guide to Division 54

54‑1  What this Division is about
      Certain annuities and lump sums provided under structured settlements and structured orders are exempt from income tax. This Division tells you what a structured settlement is and what a structured order is, and when such an annuity or lump sum is exempt.

Subdivision 54‑A—Definitions

Table of sections

Operative provisions
54‑5 Definitions
54‑10 Meaning of structured settlement and structured order

Operative provisions

54‑5  Definitions
  In this Division:
date of the settlement or order:
 (a) for a *structured settlement, means:
 (i) the date on which the agreement that is the structured settlement was entered into; or
 (ii) if that agreement depends, for its effectiveness, on being approved (however described) by an order of a court, or on being embodied in a consent order made by a court, the date on which that order was made; and
 (b) for a *structured order, means the date on which the order was made.
personal injury annuity means an *annuity:
 (a) that is purchased under the terms of a *structured settlement as mentioned in paragraph 54‑10(1)(e); or
 (b) that is purchased under the terms of a *structured order as mentioned in paragraph 54‑10(1A)(e).
personal injury lump sum means a lump sum:
 (a) that is purchased under the terms of a *structured settlement as