*Loan,banking and credit>>>tax advice

I could really do with some advice on paying less TAX on a MV payout?

I had a serious can accident a few years back, and its been a battle to get my case to court.
Now i'm due for payment, I have been informend that the goverment is going to TAX me on my deserved payout.
Is there any way around this ???

This is an Australian answer: Who's informing you? If your pay out is for loss of income or in lieu of wages it could be taxed as income. But to the extent that it is plainly just compensation for damages/pain/medical and is paid as a lump sum it won't be taxable. A short consultation with a tax accountant who's provided with all the necessary info about your situation should clear things up for you and make sure that your payment is structured tax effectively if necessary.

There is no tax on that kind of medical related pain and suffering award. To the extent the award is for loss of income, that will be taxed. The tax depends entirely on how the award is structured. Get it structures as entirely for pain and suffering and to pay medical bills, and you have not tax.

Consult a CPA in your area.