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TaxTim says: 5 September 2013 at 21:29 Please explain the medical expenses as a result of your work? |
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Nic says: 6 September 2013 at 8:52 To give a slight background I work in the events industry. While working on an event I had an accident, unfortunately there was no medical at the event so I was not attended to until I returned to CT (home). When I returned I informed my employer immediately, after a week of pain I told him I needed to see a doc, I then went to the doc and then he told me I needed to see a specialist if it didn't heal after 3 weeks. I informed my employer and then about 2 months after that is when I received my settlement which I then used to see a specialist and get the injury attended to ( - 1/4 of the settlement for the medical expenses during that financial year). |
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TaxTim says: 8 September 2013 at 23:56 Did your boss specifically say that you would be compensated for being injured, or just that you would be paid out for the remaining work time whilst you were away? |
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Nic says: 9 September 2013 at 9:19 "This agreement is without admission of liability and is in full and final settlement of all claims, of whatsoever nature or howsoever arising, between the parties." - This is a direct extract of what was in the settlement agreement. |
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TaxTim says: 9 September 2013 at 21:35 It would appear that your previous employer made you sign an agreement accepting a payout as part of a severance package and therefore has claimed no medical liability. If this is the case then the payout is taxed in your hands and there is no exemption or capital portion. |
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