needing_help
30-03-2007, 03:34 AM
Currently in a situation where being paid by an income protection policy. The policy itself does not have any course of action if made TPD. For all intents and purposes the insurer is quite prepared to continue the payments until 65 but has stated that if made an offer to pay out the policy they would consider it. If a offer was made and accepted how would the payout be taxed if at all?? Would it be taxed as income earned in 1 year and taxed accordingly or what.
Might not be right place but looking for advice or somewhere to look.
Might not be right place but looking for advice or somewhere to look.