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IS 20/01
Issued
24 Feb 2020

Income tax – treatment of the receipt of lump sum settlement payments

Considers the income tax treatment of lump sum payments received to settle claims that are both capital and revenue in nature. In particular, it considers when apportionment will be required.

TIB Volume 32 No 3 April 2020

Income Tax Act 2007

Allsop v FCT (1965) 14 ATD 62 (HCA)
Buckley & Young Ltd v CIR (1978) 3 NZTC 61,271 (CA)
Carter v Wadman (1946) 28 TC 41 (UKCA)
Case S96 (1996) 17 NZTC 7,603
Case V8 (2001) 20 NZTC 10,092
du Cros v Ryall (1935) 19 TC 444 (KBD)
FCT v CSR Ltd No S278 of 2000, 23 November 2001
Federal Coke Pty Ltd v FCT 77 ATC 4255 (FCA)
Henwood v CIR (1995) 17 NZTC 12,271 (CA)
McLaurin v FCT (1961) 12 ATD 273 (HCA)
FCT v Spedley Securities Ltd 88 ATC 4126 (FCA)
Wales v Tilley [1943] 1 All ER 280 (HL)