Compensation and insurance payments
Check if you need to declare and pay tax on compensation and insurance payments, including settlements.
A structured settlement you receive as compensation for a personal injury is tax exempt if it meets certain conditions.
When tax applies to a compensation payment from a financial institution or under the CSLR.
A settlement payment you receive from the Services Australia income compliance (Robodebt) class action is not taxable.
Redress scheme payments made as compensation or damages for a wrong, injury or illness are non-assessable income.
Payments of conflicted remuneration you receive may need to be included as income in your tax return.
An income tax treatment may apply to a settlement payment you receive from the Volkswagen, Skoda and Audi class action.
Declare payments from an income protection, sickness or accident insurance policy in your tax return.
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