Compensation Receipts are not all Tax-Free?

5 Mar 2025 11:00AM – 12:30PM AEDT

$190.91 +GST

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Obtaining compensation can be a long, arduous and expensive exercise and when it is finally received – net of legal costs – there is the question of tax. If the compensation merely puts us back to our original position how and where does tax fit in? A claimant seeking compensation should be aware of the tax consequences and factor the tax liability into the claim.

The range of circumstances in which compensation may be awarded is vast, including injury, loss or destruction. Claims may be for personal injury which can be physical or mental, reputational or professional; losses may relate to tangible or intangible assets, property, occupation, even opportunity. Destruction of assets may be total or partial. Claims for compensation may relate to a number of different heads and the amount awarded may cover different things.

This webinar will be presented by one of TaxBanter’s experienced tax trainers.

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