Structured settlement contributions
Structured settlement contributions are payments an individual has received and contributed into their super fund. Structured settlement payment is a payment arising from a personal injury claim where two legally qualified medical practitioners have certified that it is unlikely the individual can ever be gainfully employed in a capacity for which they are reasonably qualified or trained.
Structured settlement contributions can be contributed to a super fund as non-concessional contributions (NCC). The NCC caps and $1.6 million superannuation balance restriction does not apply. Tax savings apply by having the structured settlement payment in the no (or low tax) super environment.
- Establish SMSF.
- Contribute the structured settlement contributions to the fund.
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