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The Taxation of Personal Injury Damages in Canada

The Taxation of Personal Injury Damages in Canada PDF Author: Tamara L. Larre
Publisher:
ISBN:
Category : Damages
Languages : en
Pages : 390

Book Description

The Taxation of Personal Injury Damages in Canada

The Taxation of Personal Injury Damages in Canada PDF Author: Tamara L. Larre
Publisher:
ISBN:
Category : Damages
Languages : en
Pages : 390

Book Description

Pity the Taxpayer

Pity the Taxpayer PDF Author: Tamara Larre
Publisher:
ISBN:
Category :
Languages : en
Pages :

Book Description
The tax treatment of personal injury damages has been largely ignored in Canada, despite questionable authority for the generally accepted position that they are not taxable. Courts have reasoned that personal injury damages are not subject to tax because these awards replace lost human capital. However, this explanation became open to question after the introduction of capital gains tax in Canada.The author looks beyond taxation to disability policy in order to validate the tax exemption for personal injury damages. Specifically, the author examines two possible explanations for this tax treatment. According to the humanitarian justification, personal injury damages are not subject to tax because of feelings of pity or sympathy for the injured plaintiff. Commentary to date on the humanitarian justification has not recognized the relevance of disability studies, so a principal focus of this paper is on the contribution of the disability literature to the debate. Considering the disability literature, the author rejects the humanitarian justification by demonstrating that these views reinforce stereotypes and social barriers that actually contribute to disability. The author also examines the tax exemption for personal injury damages as a tax expenditure intended to provide income support for persons with disabilities. Because this program does not account for financial need and is only available to successful tort plaintiffs, the author argues that the program can not achieve an intended goal of advancing full participation in society. In view of the disability literature and government policy statements, neither explanation for the exemption reflects the values of equality, participation and full citizenship that inform disability policy in Canada. Because the tax exemption is not supportable as disability policy, the author advocates for continued debate to identify the appropriate tax treatment of personal injury damages.

Taxing Personal Injury Damages

Taxing Personal Injury Damages PDF Author: Tamara Larre
Publisher:
ISBN:
Category :
Languages : en
Pages :

Book Description
The Canada Revenue Agency (CRA) maintains that all personal injury damages are exempt from income tax, but has provided little explanation for its position. The CRA's practice of not including such receipts in income makes it unlikely that Canadian courts will have the opportunity to fully consider the proper legal treatment of personal injury damages. This article examines the tax policy implications of taxing each of the following types of personal injury damages: loss of working capacity, non-pecuniary damages, and cost-of-care awards. It is argued that damages for loss of working capacity and non-pecuniary damages should be fully taxed, since they are best viewed as replacing capital assets with low basis. It is also shown that horizontal and vertical equity may be better achieved if damages for cost of care are fully taxed, given the existing medical expense tax credit. Income-bunching concerns are not considered significant enough to justify capital gains treatment, although a one-half exemption would be more politically viable than forward averaging. In conclusion, if the current tax exemption for personal injury damages is maintained, it must be justified as a tax expenditure rather than on other tax policy grounds.

Report on Standardized Assumptions for Calculating Income Tax Gross-up and Management Fees in Assessing Damages

Report on Standardized Assumptions for Calculating Income Tax Gross-up and Management Fees in Assessing Damages PDF Author: Law Reform Commission of British Columbia
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 120

Book Description

Personal Injury Damages in Canada

Personal Injury Damages in Canada PDF Author: Kenneth D. Cooper-Stephenson
Publisher:
ISBN:
Category : Damages
Languages : en
Pages : 828

Book Description

Report on Periodic Payment of Damages for Personal Injury and Death

Report on Periodic Payment of Damages for Personal Injury and Death PDF Author: Manitoba. Law Reform Commission
Publisher: Manitoba Law Reform Commission
ISBN:
Category : Law
Languages : en
Pages : 144

Book Description

Report on Compensation for Personal Injuries and Death

Report on Compensation for Personal Injuries and Death PDF Author: Ontario Law Reform Commission
Publisher: The Commission
ISBN:
Category : Accident law
Languages : en
Pages : 292

Book Description

Personal injury damages in Canada

Personal injury damages in Canada PDF Author: Kenneth D. Cooper-Stephenson
Publisher:
ISBN: 9780779880904
Category : Damages
Languages : en
Pages : 1380

Book Description

Personal Injury Damages in Canada

Personal Injury Damages in Canada PDF Author: Kenneth D. Cooper-Stephenson
Publisher: Carswell Legal Publications
ISBN: 9780459310110
Category : Damages
Languages : en
Pages : 65

Book Description

Introduction to Structured Settlements

Introduction to Structured Settlements PDF Author: John P. Weir
Publisher:
ISBN:
Category : Damages
Languages : en
Pages : 398

Book Description

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