My employer has a group Life Insurance/TPD policy as an employee benefit. My TPD claim through this policy was approved and the insurer made the payment to my employer who transferred the payment to me. The employer has withheld tax from the payment. I thought this TPD payment would be tax exempt. I received another TPD through my super fund and this was taxed which is what I understood would happen as it is part of a taxed super fund. Can someone please help me understand if the group policy payment that didn’t go through super should have been taxed at all? If it was meant to be taxed, how is the amount worked out? Thank you.
102 views
102 views3 replies
3 replies
102 views
3 replies