I received a large victims of crime compensation payment and want to know whether this will be taxed? I am also on carers payment and usually don't earn enough extra to be taxed, so just wondering how this year will affect me.
Hey @elan93,
16/01/2025 - updated by moderator.
No, a victims of crime compensation payment isn't taxable if it is for the pain or suffering you experienced from an injury you sustained because of criminal behaviour and doesn’t relate to lost income (for example, because you were not able to work for a time).
Not taxable when I received one.
Oh really, awesome!
Hey @elan93,
16/01/2025 - updated by moderator.
No, a victims of crime compensation payment isn't taxable if it is for the pain or suffering you experienced from an injury you sustained because of criminal behaviour and doesn’t relate to lost income (for example, because you were not able to work for a time).
Dear ATO community,
I have a question about OBTAIN PROPERTY BY DECEPTION. I have reported the matter to police and it's still under investigation. If the outcome of the police investigation is a loss for me, then can I claim the lost amount while I lodge my next tax return?
Thank you!
Hi @rejithp,
You would need to contact our tailored technical assistance team as you may be need to apply for a private ruling.
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