Commonwealth of Australia Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 54.5

                   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 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).