+ Reply to Thread
Results 1 to 6 of 6
  1. #1
    headoverfeet's Avatar
    headoverfeet is offline The truth will set you free, but first it will **** you off. -Gloria Steinem
    Join Date
    Nov 2007
    Location
    Australia
    Posts
    18,952
    Thanks
    3,142
    Thanked
    4,894
    Reviews
    1
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 postsRuby Star - 15,000 posts
    Awards:
    100 Posts in a week

    Default Tax Buffs, are works compensation payouts tax deductible?

    Just wondering if compensation payouts are tax deductible? It wasn't for loss of wages just for permanent injuries sustained.

    TIA

  2. #2
    Join Date
    Mar 2013
    Posts
    2,087
    Thanks
    1,179
    Thanked
    1,566
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Awards:
    Busiest Member of the Week300 posts in a week200 Posts in a week100 Posts in a week
    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.

  3. #3
    Join Date
    Jul 2010
    Location
    The Kimberley WA
    Posts
    4,731
    Thanks
    926
    Thanked
    1,211
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    My dh wasn't taxed on his. It was stated in his offer that it would be tax free.

  4. #4
    Join Date
    Sep 2011
    Posts
    3,325
    Thanks
    46
    Thanked
    997
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Nope it's not

  5. #5
    headoverfeet's Avatar
    headoverfeet is offline The truth will set you free, but first it will **** you off. -Gloria Steinem
    Join Date
    Nov 2007
    Location
    Australia
    Posts
    18,952
    Thanks
    3,142
    Thanked
    4,894
    Reviews
    1
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 postsRuby Star - 15,000 posts
    Awards:
    100 Posts in a week
    Thanks everyone

  6. #6
    Join Date
    Sep 2010
    Location
    casino
    Posts
    1,963
    Thanks
    2,918
    Thanked
    335
    Reviews
    1
    Achievements:Topaz Star - 500 posts
    What about if work cover. Paid for Loss of wages is that taxable ?


 

Similar Threads

  1. Any salary sacrifice/ tax buffs out there?
    By Pmakes3 in forum Family Finances
    Replies: 7
    Last Post: 09-07-2013, 19:10
  2. Advice needed from exercise buffs.
    By Star Light in forum General Chat
    Replies: 7
    Last Post: 02-07-2013, 13:07
  3. Would you apply for medical compensation after cesarean mistake?
    By Ksales in forum Birth & Labour Questions
    Replies: 8
    Last Post: 07-08-2012, 10:50

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
Bokbo🍃🌿A beautiful curation of eco-friendly, ethically made and award-winning products for baby and kids from around ...
REVIEWS
"Made bed time less anxious"
by Meld85
My Little Heart Whisbear - the Humming Bear reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›