Hi everyone,
My full time student son was hit, while walking, by a car in Oct 2007 and the driver's insurance company have now offered to settle for out of pocket expenses and compensation. Can he claim the income for 2007 retrospectively as the accident happened then? He has a lot of part time work this year and would have a tax liability if tax on the compensation income has to be paid in 2008. He had no income in 2007.
- BTW can a student claim rent relief against their personal income tax?
Thanks!
My full time student son was hit, while walking, by a car in Oct 2007 and the driver's insurance company have now offered to settle for out of pocket expenses and compensation. Can he claim the income for 2007 retrospectively as the accident happened then? He has a lot of part time work this year and would have a tax liability if tax on the compensation income has to be paid in 2008. He had no income in 2007.
- BTW can a student claim rent relief against their personal income tax?
Thanks!