Just wondering if compensation payouts are tax deductible? It wasn't for loss of wages just for permanent injuries sustained.
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10-07-2013 16:53 #1
Tax Buffs, are works compensation payouts tax deductible?
10-07-2013 18:01 #2
As far as I am aware they are not. I had a payout and it didn't affect my tax at all for that year.
10-07-2013 18:36 #3
My dh wasn't taxed on his. It was stated in his offer that it would be tax free.
10-07-2013 18:39 #4
Nope it's not
10-07-2013 18:49 #5
16-07-2013 19:22 #6
What about if work cover. Paid for Loss of wages is that taxable ?
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