I made an application for General Protections to the Fair Work Commission against my previous employer. As part of the settlement terms, my previous employer paid me $ to settle. For the avoidance of doubt, this matter was under General Protection and not Unfair Dismissal. Is this settlement $ taxable income?
Hi @dragon8,
The payment doesn't fall under the ordinary income rules and isn't taxable, based on what you've said.
Have a look on our web site where it talks about lump sum payment for general damages.
Hi @dragon8,
The payment doesn't fall under the ordinary income rules and isn't taxable, based on what you've said.
Have a look on our web site where it talks about lump sum payment for general damages.
Hi, how should I correct the record if my former employer had incorrectly attributed the "lump sum payment for general damages" as a taxable income on my payslip? Can I ask ATO to amend directly or do I have to contact my former employer?
22 Apr 2024 · 6 min read time
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