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Do I pay tax on the funeral plan payout?

Posted 26 July 2016 under Tax Q&A


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Hannes says:
26 July 2016 at 14:38

My wife passed away in the 2016 tax year. Do I have to declare the funeral plan payout as an income when submitting my taxes? Do I pay tax on the funeral plan payout?

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TaxTim TaxTim says:
26 July 2016 at 14:57

No you will not have to pay tax on this payout fortunately.


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