Hello,
Happy New Year, to you all.
If the Ombudsman maks a ruling in the customer's favour, to include order for payment of compensation by a financial institution, is it deemed taxable income (and subject to declaration, in the customer's personal tax returns?)?
Also, if a financial institution makes a goodwill payment to a customer, in settlement of a complaint (but without admitting wrong doing etc.), is that also subject to tax payment, by the customer ?
Many thanks
Happy New Year, to you all.
If the Ombudsman maks a ruling in the customer's favour, to include order for payment of compensation by a financial institution, is it deemed taxable income (and subject to declaration, in the customer's personal tax returns?)?
Also, if a financial institution makes a goodwill payment to a customer, in settlement of a complaint (but without admitting wrong doing etc.), is that also subject to tax payment, by the customer ?
Many thanks