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.
Declare payments from an income protection, sickness or accident insurance policy in your tax return.
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