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Tax on Out-Of-Court Settlement?

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  • 12-03-2008 12:48am
    #1
    Steffano2002
    Registered Users Posts: 5,918 ✭✭✭


    Hi there,

    Hope this is the right forum! :o

    Long story short: My mother was unfairly dismissed last year by her employer. She got a lawyer and did everything that needed to be done. Cout date was set for Friday. Defense lawyer contacts my mother's lawyer this morning and offers x amount as an out-of court settlement...

    Now, does anybody have any information about Tax on Out-Of-Court Settlements? I checked revenue.ie and found nothing... Is there some cut-off point? i.e no Tax up to €10,000 EUR, 20% Tax from €10,000 to €20,000 EUR, etc?

    Thank you in advance for your help! :)


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    #2
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    It's exempt from tax. Section 192A TCA 1997. Congrats. Spend it wisely :D


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    #3
    Steffano2002
    Registered Users Posts: 5,918 ✭✭✭Steffano2002


    Thank you for this information SetantaL! ;)


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