2007-02-02 01:59:51 · 3 answers · asked by samm 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
Car accident settlement money
2007-02-02 02:25:27 · update #1
no you do not, with the exception of life insurance.
2007-02-02 02:09:02 · answer #1 · answered by swatthefly 5 · 0⤊ 0⤋
In Canada it would be no depending what the settlement was for. If however, the insurance company sends a T slip then it would be taxable or if the settlement was for something you had written off as an expense on your income tax.
2007-02-02 10:10:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Not enough info.
What kind of insurance settlement? For a car accident, for an injury, life insurance?
For a car accident, probably not. Life insurance, generally not (if your company provided life insurance was paid with pre-tax dollars, then I believe you do have to pay taxes on it).
2007-02-02 10:17:52 · answer #3 · answered by Quixotic 3 · 0⤊ 0⤋